The NZD has crept a little higher to sit around 0.8340 this morning. Yesterday’s BNZ PMI showed NZ’s manufacturing sector started 2014 on a healthy note. January’s reading of 56.2 is well above 50, the level that separates expansion from contraction. It is no surprise. The New Year looks much like last year, with January’s result sitting between December’s 56.4 result and the 2013 average of 56.0. Manufacturing growth continues despite the general strength of the NZD
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BNZ