The New Zealand dollar rose today, boosted by the Producer Price Index, which came out much better than was expected by economists.
The output PPI rose 0.9% in the June quarter from the previous three months, while the input PPI rose 1.0%. That is compared to analysts’ predictions of a growth by 0.1% and 0.2% respectively.
The kiwi was heading to end the week as the strongest currency, but analysts were skeptical about longevity of the rally, arguing that it was just a result of profit-taking after big losses.
NZD/USD rose from 0.6585 to 0.6609 as of 16:03 GMT today. NZD/JPY ticked up from 72.96 to 73.01 after falling to the daily low of 72.78.
If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.
