The New Zealand dollar sees mild recovery

The Aussie and New Zealand Dollar climbed to their highest point this month as new trade figures have shown China’s August exports have increased, showing that the economy has managed to push through a sharp slowdown. China remains one of New Zealand’s top importers.

 
 

GBP-NZD 2013 09 09

THE New Zealand Dollar gained a fair amount of ground against major currencies over the last week; weaker US jobs data had encouraged some investors to hold back expectations that the Federal Reserve would start tapering its bond buying program this month.

The Aussie and New Zealand Dollar climbed to their highest point this month as new trade figures have shown China’s August exports have increased, showing that the economy has managed to push through a sharp slowdown. China remains one of New Zealand’s top importers.

All eyes are on potential military action in Syria as the US Secretary of State tires to gain support ahead of an expected vote in Congress this week.

Investors will be waiting for Thursday’s meeting of the central bank and its monetary policy statements for clues about any increase in interest rates that may come. This may however be placed on hold as the central bank investigates the impact of its new restrictions on its mortgage lending to low deposit borrowers.

Composed by Damian Sutherland

Exchange rates as of 08:56 (GMT), 09/09/2013

GBP / NZD: 1.95871

EUR / NZD: 1.64955

USD / NZD: 1.25162

ZAR / NZD: 0.12495

Note: The above exchange rates are based on “interbank” rates.  If you want to transfer money to New Zealand then please register/login or call us for a live dealing rate. Make use of a Rate Notifier to send you alerts when the New Zealand exchange rate reaches levels you are looking for.

 
 

 

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