The New Zealand was down earlier during the Wednesday’s trading session but rebounded against its major rivals. Currently, the kiwi trades above the opening level against the US dollar and the euro.
Yesterday’s New Zealand data was detrimental to the currency as GDT Price Index dropped 1.4 percent while the nation’s Consumer Price Index dropped 0.5 percent in the fourth quarter of 2015. Today’s data was more favorable as the Business NZ manufacturing PMI gained by 1.8 points to 56.7 in December. The conflicting fundamentals resulted in a mixed performance of the New Zealand dollar.
NZD/USD was down from 0.6406 to 0.6347 intraday but bounced to trade at about 0.6428 as of 21:58 GMT today. EUR/NZD was at 1.6934 after opening at 1.0707 and rallying to the session high of 1.7267.
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