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NZ Dollar Rises on Current Account Surplus, Fails to Hold onto Gains

June 19, 2019 at 9:02 by Vladimir Vyun

A coin rolling on the New Zealand dollar billsThe New Zealand dollar attempted to rally today on the back of a better-than-expected current account reading, but by now the currency has lost its gains and trades below the opening level against most-traded rivals.

Statistics New Zealand reported that the current account turned into surplus of NZ$0.68 billion in the March quarter of 2019 from the deficit of NZ$3.49 billion in the previous quarter (without seasonal adjustments). Analysts had expected a smaller surplus of NZ$0.16 billion. With seasonal adjustments, the current account logged a deficit of NZ$2.6 billion.

NZD/USD fell from 0.6528 to 0.6521 as of 9:01 GMT today after rising to the session high of 0.6538 earlier. NZD/JPY slipped from 70.78 to 70.70, retreating from the daily maximum of 70.98.

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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