The New Zealand dollar gained today as domestic data revealed that the New Zealand manufacturing sector continued to expand with accelerating pace last month.
The seasonally adjusted BusinessNZ Performance of Manufacturing Index climbed from 55.5 to 57.9 in August. The reading above 50.0 indicates that the sector is expanding, and it was doing so since October 2012. The New Zealand dollar reacted positively to the news, while ignored, as many other currencies, the missile launch by North Korea.
NZD/USD rose from 0.7219 to 0.7249 as of 9:04 GMT today. NZD/JPY rallied from 79.55 to 80.23, bouncing from the daily low of 79.20
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