The New Zealand dollar had a good day on Thursday, thanks to strong retail sales figures which gave the economy a boost. Statistics New Zealand reported figures 2.7% higher than the previous quarter’s figures, exceeding the expectations for a rise of 1.5%, and a higher increase quarter-on-quarter.
The southern hemisphere’s other major currency, the Australian dollar, also had a great day Thursday – particularly against the US dollar. By taking advantage of weaker than expected US retail sales figures, the Australian dollar rose to 3 month highs against its US counterpart.
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