It was a less than an ideal start to the week for the New Zealand economy when its trade balance figure was NZ$400million below expectation. This caused a sharp drop in the market but it corrected itself quickly and actually gained on sterling and the US dollar on Tuesday when it was announced the country’s cash rate would stay the same. However, the currency dropped further this week, falling nearly 1.5% against the US dollar as US interest rates now seem to be on an upward trend from December.
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