The New Zealand dollar rallied today, boosted by a better-than-expected trade balance. Dovish comments of a central bank official had limited impact on the currency.
New Zealand’s trade surplus was at NZ$242 million in June, up from NZ$74 million in the previous month. The actual value was above the consensus forecast of NZ$147 million.
John McDermott, Reserve Bank of New Zealand Assistant Governor, said in today’s speech:
Over time, the neutral interest rate has been slowly falling; a trend that has been seen in many countries around the world.
NZD/USD rose from 0.7415 to 0.7429 as of 13:42 GMT today. NZD/JPY gained from 82.95 to 83.09.
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