New Zealand Dollar Gains on PPI & Asian Stocks

The New Zealand dollar gained today as the nation’s producer prices increased and Asian stocks advanced, improving prospects of the New Zealand economy and the currency.

The producer price outputs index rose 1.7 percent, while the PPI inputs rose 2.2 percent. The expected valued were 0.6 percent and 0.9 percent respectively. The MSCI Asia Pacific Index of shares rose 1.1 percent, paring its four-day drop.

NZD/USD rose from 0.7847 to 0.7865 today as of 13:33 GMT. EUR/NZD dropped from 1.8124 to 1.8043.

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