New Zealand Currency Mostly Strong On Wednesday, Wednesday, August 08, 2007 12:15:11 PM
The New Zealand currency was strong against the dollar, yen and euro in trading on Wednesday afternoon in New York. However, the kiwi saw little direction versus the sterling. The New Zealand currency moved with little economic news from the area.The New Zealand currency rose steadily against its American counterpart in trading on Wednesday. By the midday, the kiwi had reached a mark of 0.7683 against the dollar. Traders considered the wholesale inventories data from the US, which showed a bigger than expected increase of 0.5% for June.
In trading against it European counterpart, the New Zealand dollar saw steady advancement on Wednesday. As action moved past noon, the New Zealand currency reached a mark of 1.79.
Versus the pound, the New Zealand currency saw uncertain direction in trading on Wednesday. The kiwi bounced between a high of 2.64 and a low of 2.66 as action moved into the early afternoon. The currencies held in a range traders mulled over the BoE latest Inflation Report released Wednesday, which hinted at a rate hike.
The New Zealand currency rose steadily against the yen in action on Wednesday. The kiwi advanced to a mark of 91.89 as trading moved into the early afternoon. The currencies moved as kiwi traders considered Japanese core machinery orders for the second quarter. Orders slumped 2.4%, following a 0.7% fall in the first.
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posted by Kalin Tasev @ 4:23 PM
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