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NZD Near Highest Since 2008 vs. JPY, Drops vs. USD

April 5, 2013 at 13:16 by Vladimir Vyun

A heap of NZD billsThe New Zealand dollar traded sideways near the highest level since 2008 against the Japanese yen today after yesterday’s huge surge. The currency fell against its US peer as worse-than-expected US non-farm payrolls hurt the market sentiment, reducing demand for higher-yielding assets.

NZD jumped together with other currencies against the yen today after the Bank of Japan announced an aggressive quantitative easing. The kiwi weakened today after US payrolls turned out to grow just 80,000 in March. It was more than two times below the market expectations of 198,000.

NZD/USD fell from 0.8420 to 0.8404 as of 13:16 GMT today and its daily low was at 0.8385. NZD/JPY traded near its opening level of 81.10.

If you have any questions, comments or opinions regarding the New Zealand Dollar, feel free to post them using the commentary form below.

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