The New Zealand dollar surged today as the positive reports about China’s and US manufacturing made more attractive currencies related to growth, the New Zealand one among them.
The US Purchasing Managers’ Index increased from 52.7 to 53.9 in December, showing a 29th straight month of manufacturing expansion. Both the Standard & Poorâs 500 Index of shares and the MSCI World Index climbed as much as 1.8 percent today. All in all, today’s trading session was marked by optimism and positive mood. The New Zealand currency profited from that.
The kiwi (the nickname of the New Zealand currency) jumped to 0.7906 against the US dollar — the highest rate since November 14. The NZ dollar reached 1.6499 versus the euro — the highest level since September 12. NZD touched 60.63 against the yen — the high not seen since December 18.
NZD/USD climbed from 0.7782 to 0.7902 and NZD/JPY was up from 59.81 to 60.59 as of 21:55 GMT today. Meanwhile, EUR/NZD tumbled from 1.6606 to 1.6502.
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