The New Zealand dollar was mixed Monday as commentators expected it to continue breaking the ground, saying a firmer local economy was not parallel with weakness in Europe.
Kiwi touched a new record versus euro, trading at 70.95 euro cents from Friday’s 70.89 euro cents. But it slid to 75.22 US cents from 75.71 US cents.
The currency was slightly changed at 51.40 British pence from Friday’s 51.44 British pence, but it fell to ¥90.40 from ¥91.23,
Against the Australian dollar, the New Zealand dollar tumbled to 98.06 Australian cents from 98.32 Australian cents.
The euro is a dog, and got bugger all growth and inflation, as well as “massively high unemployment, stupendously high youth unemployment, and a central bank who has finally spat the dummy and turned on the printing presses with considerable gusto,” said Peter Cavanaugh, Advisor at Bancorp Treasury Services.
Meanwhile, traders will await China’s March trade data and New Zealand’s cash transaction data, which will be released today.
The material has been provided by InstaForex Company – www.instaforex.com