NZ Dollar Falls as Trade Deficit Refuses to Shrink

The New Zealand dollar fell today as the nation’s trade balance deficit was almost unchanged last month even though economists had promised it to shrink.

The New Zealand trade balance posted a deficit of $1.1 billion in September, about the same as the August revised reading. The medium forecast had promised the gap to decrease to $0.9 billion.

Today’s drop of the New Zealand dollar was the third consecutive daily fall versus the US dollar and the euro, while against the Japanese yen the kiwi fell for six days in a row.

NZD/USD fell from 0.6885 to 0.6873 as of 8:39 GMT today after rising to 0.6902 earlier. EUR/NZD ticked up from 1.7149 to 1.7182, trading near the highest level since the beginning of 2016.

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