The NZD experienced some volatility overnight but sits a little higher at 0.8080 this morning. Yesterday’s NZ PMI served to reinforce the message that domestic economic momentum is very strong. The PMI moved up to 59.5 in July from an already heady 54.7 in June. The results were very impressive given the marked slowdown in the Australian economy and its importance for NZ manufactured exports.
Read the full report: FX Daily
BNZ