The New Zealand dollar behaved similarly to its Australian counterpart, rising at the start of today’s session, slumping afterwards, but recovering later. As a result, the kiwi maintained gains versus some of its rivals, though was unable to hold ground against the US dollar.
The New Zealand output Producer Price Index rose 1.0% in the December quarter, while the input PPI increased by 0.9%. That is compared to the growth by 1.0% and 1.1% during the previous three months. Both indicators beat forecasts.
NZD/USD was down from 0.7369 to 0.7348 as of 13:34 GMT today. EUR/NZD declined from 1.6819 to 1.6786, and its daily low of 1.6741 was the lowest since January 24.
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