The New Zealand dollar fell today following the release of New Zealand’s trade data overnight even though the report was better than forecasts.
The New Zealand trade balance showed a deficit of NZ$566 million in January after logging a surplus of NZ$596 million in December. The actual gap was nowhere near the forecast shortage of NZ$2,710 million. On the other hand, it was the biggest January deficit since 2007.
NZD/USD dropped from 0.7301 to 0.7267 as of 14:16 GMT today. NZD/JPY fell from 78.04 to 77.81.
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