The New Zealand dollar rose during the Wednesday’s session, hitting the highest level in more than a year against the US dollar and the euro.
There were not many news released from New Zealand today. The only economic indicator released was manufacturing sales, and while it was good, it was not important enough to make the New Zealand currency that strong. The most likely reason for the rally was the weakness of its major rivals, the US dollar and the euro in particular.
NZD/USD rose from 0.7415 to 0.7442 as of 17:50 GMT today while its daily high of 0.7484 was the highest since May 2015. EUR/NZD fell from 1.5168 to 1.5084, touching 1.5024 intraday — also the lowest rate since May 2015.
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