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NZ Dollar Rallies with Help from Widening Trade Surplus

July 26, 2017 at 13:45 by Vladimir Vyun

Some coins on NZD notesThe New Zealand dollar rallied today, boosted by a better-than-expected trade balance. Dovish comments of a central bank official had limited impact on the currency.

New Zealand’s trade surplus was at NZ$242 million in June, up from NZ$74 million in the previous month. The actual value was above the consensus forecast of NZ$147 million.

John McDermott, Reserve Bank of New Zealand Assistant Governor, said in today’s speech:

Over time, the neutral interest rate has been slowly falling; a trend that has been seen in many countries around the world.

NZD/USD rose from 0.7415 to 0.7429 as of 13:42 GMT today. NZD/JPY gained from 82.95 to 83.09.

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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