NZ Dollar Rallies on Improving Manufacturing, Fails to Keep Gains

The New Zealand dollar was attempting to rally today but failed, trimming its gains against some rivals and erasing them outright against others by now. Domestic macroeconomic data was positive for the currency.
The seasonally adjusted BusinessNZ Performance of Manufacturing Index rose to 51.3 in June from 50.4 in May. The report commented on the result:

BusinessNZ’s executive director for manufacturing Catherine Beard said that while the sector avoided further deterioration in activity from May, there were still a number of concerns about manufacturing’s current state of play.

NZD/USD was up from 0.6661 to 0.6671 as of 13:38 GMT today but retreated from the daily high of 0.6691. NZD/JPY slipped from 72.21 to 72.11 after rising to the session maximum of 72.47 earlier.

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