The New Zealand dollar managed to pare losses versus its US counterpart today, but remained weak against other most-traded currencies, including the Australian dollar, which itself was vulnerable.
The kiwi started Thursday with huge losses due to the disappointing GDP report. The currency managed to bounce versus the greenback later as the US currency was under pressure following the dovish monetary policy statement from the Federal Reserve. During the Asian session, the Reserve Bank of New Zealand reported that private credit increased 6.1% in November, year-on-year, down from the 6.4% rate of growth registered in October.
NZD/USD opened at 0.6765, fell to the daily low of 0.6725, but bounced to 0.6784 by 19:19 GMT today. AUD/NZD opened at 1.0500, rallied to the daily high of 1.0554, but pulled back to 1.0485 later.
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