The New Zealand dollar rallied against other most-traded currencies today after nation’s trade data showed extremely positive results.
Statistics New Zealand reported that the trade balance logged a surplus of NZ$264 million — a smaller excess than NZ$383 million logged in April, but bigger than NZ$200 million predicted by analysts. Both exports and imports rose, by 8.5% and 7.6% respectively. Furthermore, exports reached the NZ$5.8 billion level — the highest on record.
NZD/USD rallied from 0.6618 to 0.6648 as of 13:16 GMT today, rising for the seventh session in a row. EUR/NZD dropped from 1.7219 to 1.7136.
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NZ Dollar Rallies as Exports Reach Record Levels
