Currency Note Worldwide

New Zealand and Australian dollars strengthen

By Ricky Bean August 20th, 2013

Elsewhere yesterday, we saw the New Zealand dollar hit three-month highs against its US counterpart. The gains were logged early on Monday morning and were triggered by quarterly data showing a significant jump in factory output levels. The currency’s strength diminished slightly throughout yesterday afternoon, however, as global market conditions pegged back the previous gains shown. Similarly, the Australian dollar hit three-week highs yesterday – advancing for the fourth consecutive day. The strength was down to market speculation ahead of the release of the Reserve Bank’s monetary policy meeting minutes released overnight. The Canadian dollar traded in the tightest range in four months as markets remain tentative ahead of Thursday’s retail sales data. As aforementioned, last night we saw the release of the Australian monetary policy meeting minutes, as well as a statement from the Governor of the Reserve Bank of New Zealand. Later on today we have Canadian wholesale sales data. Get in touch for a live rate.