Improving Employment in New Zealand Bolster Kiwi

The New Zealand dollar gained today as the reports showed the better-than-expected employment figures, increasing the possibility that the central bank would raise the interest rates.

The employment in New Zealand grew 1.0 percent in September, compared to the expected value of 0.5 percent. The employment went down to 6.4 percent, while it was expected to be 6.7 percent. The improving labor market increases the prospect for the central bank to perform the rates hike.

NZD/USD jumped from 0.7866 to 0.7959 as of 12:51 GMT today after it went down to the intraday low of 0.7828.

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