The New Zealand dollar had a mid-week stumble on Wednesday, when it fell lower against the US dollar. Statistics New Zealand reported that the country’s trade surplus had widened to NZ$631 million in March, compared to the NZ$50 February figure. On top of this, a separate report showed that the ANZ business confidence index fell away this month.
News was not so rosy for the US dollar against its closer neighbour, with the Canadian currency reaching new three month highs. Markets were eyeing the upcoming Federal Reserve policy statement, as experts are eager to see the reaction following news that the US economy grew less than expected last quarter.
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