Forex News

The New Zealand dollar weakened today on the speculation that it rallied yesterday too much and after the forecast about the slow economic grow proved true.

The end of the two-year yuan’s peg to dollar weakened some currencies and strengthened others; among later can be the New Zealand dollar.

The New Zealand dollar extended its rally today, making Alan Bollard, the governor of the Reserve Bank of New Zealand, unhappy as he worries that the strong currency impedes the economic recovery.

The New Zealand dollar rose today after the central bank increased the interest rates, hinting that it’s more concerned with the inflation that with the appreciation of the nation currency.

The New Zealand dollar rose today after two days of decline against its U.S. counterpart, the euro and the Japanese yen as the Asian stocks gained and the commodity prices increased, boosting the demand for the higher-yielding assets.

The New Zealand strengthened today as the favorable data from the U.S. added to the signs of the economic recovery, while the New Zealand’s trade surplus may prompt the central bank to increase the interest rates; against the U.S. dollar the kiwi experienced volatility and currently fell.

The New Zealand dollar dropped today against its Australian counterpart on the concerns that the Aussie will be more attractive to the investors, interested in carry trade, because of the higher interest rates in Australia.

The New Zealand dollar dropped versus its U.S. counterpart today to the lowest level since July 2009 as the European troubles and the concerns about the possible escalation of the conflict between North and South Korea increased the risk aversion sentiment and caused the investors to turn away from the higher-yielding currencies.

The New Zealand dollar strengthened against its U.S. counterpart today, while it was declining for the whole week, after the consumer confidence increased and the unemployment rate dropped, suggesting about the increasing pace of the economic recovery.

The New Zealand dollar dropped today on the concern about the impact of Germany’s ban of short selling on the European economy and after the Governor of the central bank said that the gradual depreciation of the currency is desirable.