The NZD/USD has been up the hill and down again over the past 24-hours. It sits close to 0.7850 this morning. Like most of its peers, the NZD/USD was launched higher after US Fed Chairman Bernanke’s comments yesterday morning. Momentum was then maintained throughout the day. The release of the June PMI slipped from the previous month’s heady level but was still strong at 54.7. Results confirm a solid and expansionary first half of the year for the NZ manufacturing sector.
Read the full report: FX Strategy
BNZ