NZ Dollar Gains on Rivals, Fails to Hold Ground vs. US Dollar

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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