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Thursday, July 15, 2010

New Zealand Dollar Down vs. Yen, Up vs. Euro

The Australian dollar fell against the Japanese yen and experienced the volatility versus the U.S. currency today on the concerns for the global economic growth; the kiwi outperformed the euro as the New Zealand economy might be in a better shape than Europe’s one.

Bill English, the Minister of Finance of New Zealand, voiced hope that the nation’s budget would return to the surplus before 2016 as New Zealand shows fiscal discipline. The budget deficit already reported to be less than previously estimated by the experts. The currency was also bolstered by the forecast that the report would show the increase of the consumer prices.

The economists expect that the annual inflation would post a value of 1.9 percent, in line with the central bank’s target of one to three percent average annual inflation in the medium term. The investors bet that the Reserve Bank of New Zealand would raise the interest rates by 130 basis points.

NZD/USD traded at 0.7106 as of 20:12 GMT today after it opened at 0.7105. EUR/NZD traded at about 1.7714 down from the opening price of 1.7776. NZD/JPY traded near 62.96.

If you want to comment on the New Zealand dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the New Zealand Dollar:

New Zealand Dollar Drops After Yesterday's Surge (2010-06-24)New Zealand Dollar Profits from Stronger Yuan (2010-06-21)Strong New Zealand Dollar Makes Alan Bollard Unhappy (2010-06-14)New Zealand Dollar Rises with Interest Rates (2010-06-10)NZ Dollar Rises on Speculations About Increasing Rates (2010-06-08)
This entry was postedon Monday, July 12th, 2010 at 10:12 pmand is filed under New Zealand Dollar.You can follow any responses to this entry through the RSS 2.0 feed.You can skip to the end and leave a response. Pinging is currently not allowed.

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