The New Zealand dollar climbed today after positive market sentiment, caused by hopes for the eurozone and anticipation of positive macroeconomic data from the United States, boosted global stocks.
Traders were optimistic about the eurozone and the United States. The optimism about the US economy was well founded as US retail sales rose 1.1 percent in February, exactly as analysts predicted, while the January increase was revised from 0.4 percent to 0.6 percent. The MSCI Asia Pacific Index of stocks jumped as much as 1 percent, following the 0.6 percent drop yesterday. Fundamentals in New Zealand were also supportive for the nation’s currency.
NZD/USD rose from 0.8183 to 0.8217 as of 15:08 GMT today, while the daily high was 0.8235. NZD/JPY was up from 67.28 to 67.98.
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