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NZ Dollar Trims Losses After Falling Earlier

March 20, 2019 at 10:27 by Vladimir Vyun

Assortment of Kiwi dollar billsThe New Zealand dollar fell today, being one of the weakest currencies on the Forex market together with its Australian counterpart. The currency has trimmed its losses by now, though. Latest macroeconomic data released in New Zealand was decent, giving no additional reasons for the kiwi to go down.

Global Dairy Trade Price Index showed an increase by 1.9% that followed the increase by 3.3% in the previous reporting period. Statistics New Zealand reported that the seasonally adjusted current account deficit was at NZ$2.5 billion in the December quarter, basically unchanged from the September quarter. Without adjustments for seasonal variations, the deficit shrank to NZ$3.26 billion from NZ$6.18 billion, below the average forecast of NZ$3.55 billion.

NZD/USD traded at 0.6845 as of 10:14 GMT today after opening at 0.6849 and falling to the daily low of 0.6826. EUR/NZD opened at 1.6561, rallied to the daily high of 1.6615, but retreated to 1.6575 later.

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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