NZ Dollar Reaches Record vs. US Dollar on Business Confidence

The New Zealand dollar touched the all-time high against the US dollar today after the reports showed that the building approval advanced last month and the business confidence improved in June.

The seasonally adjusted figure for the new building permits rose 2.2 percent in May, following the drop by 1.2 percent in April. The Business Confidence index of the National Bank of New Zealand was at 46.5 in June, up from 38.3 in May. The New Zealand dollar also strengthened with other higher-yielding currencies as the positive outcome of the Greek vote increased investors’ willingness to risk.

NZD/USD went up to 0.8276 from 0.8250 as of 10:27 GMT today after it earlier reached the record high of 0.8317.

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