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NZD Moves Higher After Initial Violent Reaction to Employment Data

May 2, 2018 at 11:13 by Vladimir Vyun

A coin rolling on the New Zealand dollar billsThe New Zealand dollar rose against major currencies today following the release of a decent employment report. While the currency reacted wildly to the release, jumping initially and slumping back down almost immediately, the kiwi was moving largely up afterwards.

The Statistics New Zealand reported that the unemployment rate fell from 4.5% in the December quarter of 2017 to 4.4% in the March quarter of 2018, in line with expectations. Employment grew by 0.6% after increasing by 0.4% in the previous three months. The rate of growth was faster than 0.5% promised by the consensus forecast.

NZD/USD rose from 0.7002 to 0.7019 as of 11:07 GMT today. NZD/JPY gained from 76.92 to 77.09.

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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