The New Zealand dollar attempted to rally earlier today but failed and moved below the opening level. The slight improvement of the business confidence was not enough to support the currency.
The ANZ Business Confidence Index rose to -37.1 in October from -38.3 in September. The retail sector demonstrated the biggest bounce but remained the worst performer. The manufacturing sector was the most optimistic.
NZD/USD fell from 0.6553 to 0.6532 as of 13:21 GMT today after rising to the daily high of 0.6570 earlier. NZD/JPY declined from 74.11 to 73.97, retreating from the session maximum of 74.31.
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NZ Dollar Fails to Maintain Rally Despite Improving Business Confidence
