The New Zealand dollar was yet another victim of the risk-negative sentiment prevailing on the Forex market that led to less than stellar performance of risky growth-related currencies. Solid domestic fundamentals were not enough to support the currency.
Seasonally adjusted Business NZ Performance of Manufacturing Index ticked up from 57.0 to 57.9 in January. The report commented on a healthy state of New Zealand’s economy. Yet this did not prevent the NZ dollar from joining its Australian counterpart in decline.
NZD/USD edged down from 0.6685 to 0.6635 as of 9:39 GMT today. NZD/JPY slumped 2.5 percent from 75.77 to 73.83, and its daily low was at 73.24.
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