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NZ Dollar Mixed amid Quiet Lunar New Year Trading

February 4, 2019 at 12:00 by Vladimir Vyun

Assortment of Kiwi dollar billsThe New Zealand dollar was mixed on Monday, falling against such major currencies like the US dollar and the euro but rising versus safe currencies like the Japanese yen and the Swiss franc.

Unlike its Australian counterpart, the New Zealand dollar got support from positive domestic macroeconomic data as the Statistics New Zealand reported that the seasonally adjusted number of building permits rose 5.1% in December from the previous month, following the 1.9% fall in November. Mild risk appetite on the Forex market was also supporting the currency. Trading was quieter than usual as markets in China were closed for the Lunar New Year holiday. Markets in Taiwan and South Korea were closed for a holiday as well.

NZD/USD slipped from 0.6895 to 0.6888 as of 11:48 GMT today after touching the daily high of 0.6906 earlier. NZD/JPY rose from 75.51 to 75.67, trading near the highest level since December 20.

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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