The NZD/USD has slipped a little over the past 24-horus to sit around 0.8070 this morning.
Yesterday’s BNZ Performance of Services Index confirmed a now familiar story. The domestic economy is going from strength to strength. At 58.1, the PSI reading was not quite as high as last week’s PMI (59.5), but told of broadbased strength. The PSI adds to numerous signs that the economic expansion is now accelerating. Indeed, the chance of getting 5% GDP growth over the coming 12 months cannot be taken lightly.
Read the full report: FX Daily
BNZ