The New Zealand dollar gained today, joining other commodity currencies in a rally. Poor domestic macroeconomic reports did little to dissuade it from rising.
Gains of crude resulted in a good performance for currencies linked to raw materials, and the kiwi was not different. The drop of manufacturing index and the decline of food prices were unable to prevent the advance of the currency. The NZ dollar still ended the week with losses, but they were far smaller than they could have been if the currency did not rally strongly today.
NZD/USD 1.2% gained from 0.6664 to 0.6742. NZD/JPY jumped 1.7% from 75.42 to 76.72.
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