New Zealand Economy Expands, NZD/USD Jumps to Record
The New Zealand dollar advanced against all 16
The New Zealand gross domestic product rose 0.8 percent in the first quarter of 2011, following the growth by 0.5 percent (revised from 0.2 percent) in the previous quarter. The median forecast was 0.3 percent. The House Price Index of the Real Estate Institute of New Zealand rose 1.3 percent in June after it fell 1.8 percent in May.
NZD/USD jumped from 0.8372 to 0.8460 as of 9:23 GMT today and reached earlier the record high of 0.8504. EUR/NZD dropped from 1.9631 to 1.6831, following the fall to 16732.
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Earlier News About the New Zealand Dollar:
- China's Economy Makes Kiwi More Appealing, NZD/USD at Record (2011-07-13)
- Search for Higher Yield Draw Investors to Kiwi (2011-07-06)
- NZ Dollar Reaches Record vs. US Dollar on Business Confidence (2011-06-30)
- Shrinking Trade Surplus Makes Kiwi Weaker (2011-06-27)
- Kiwi Fluctuates, Can Become Stronger on Current Account (2011-06-22)