The New Zealand dollar gained against its US rival but had problems keeping gains against other most-traded counterparts during the current trading session.
The kiwi stayed resilient even after the Reserve Bank of New Zealand had cut interest rates last week. This fed speculations that central banks are reaching their limit of influencing economies, at least through conventional means. Helping the currency was the GlobalDairyTrade Price Index that jumped 12.7% today, almost two times the increase during the previous reporting period.
NZD/USD was up from 0.7207 to 0.7263 as of 16:41 GMT today, and its daily high was at 0.7301. EUR/NZD ticked up from 1.5485 to 1.5503, though the currency pair is moving down right now.
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