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NZ dollar trading for six weeks high



The New Zealand dollar traded for six weeks after the jump, when the US Federal Reserve Bank had a more cautious note on the future growth in rates and a revised outlook for New Zealand to improve its fiscal position.

Kiwi traded at 69.15 US cents at 5.00 pm in Wellington from 69.02 US cents at 8.30 in Wellington and 68.39 cents yesterday. Serious trade index reached 74.24 from 73.78 yesterday.

Check out the live rates for NZ-US $ below. Click for more information:NzForex Foreign Exchange Transfers

The New Zealand dollar strengthened earlier when the Fed stated that "in light of global economic and financial developments and mitigated inflationary pressures, the committee will be patient, because it will determine what future adjustments to the federal funds margin may be appropriate to support these results."

Dealer Kiwibank Mike Shirley said that "most of this step has emerged from the Fed's announcement, given that it is a girlish attitude."

However, it has another leg when Standard & Poor's lifted the outlook for New Zealand to positive. The credit rating agency said New Zealand's government budget could reach a surplus over the next few years that would give the sovereign additional resistance to macroeconomic or financial risk, if any.

"As a result, we are revising our outlook on long-term long-term ratings to positive from stable," he said.

Shirley said that "basically means that there is one third of the chances we will upgrade by one degree in the next two years."

Finance Minister Grant Robertson noted that this was the strongest position of Standard & Poor's in New Zealand since September 2011. "Today's revision of the S & P outlook is another sign that the economic fundamentals of New Zealand are strong," Robertson said.

In the future, Shirley said investors will follow the Personal Consumer Expenditure Index, which is considered to be one of the Fed's favorable measures, which is payable later on a global trading day, followed by Sunday night's Friday wages.

This is especially true after the Fed said today that it "will assess the realized and expected economic conditions", including measures on labor market conditions, inflationary pressure indicators and inflation expectations, and data on financial and international developments.

Investors are also watching the titles of the eyes as there are further business negotiations between China and the US.

Kyoto yesterday traded at 95.13 Australian prices from 95.08 cents and gained 4.6339 Chinese yuan from 4.5926 yuan. It rose to 75.28 yen from 74.79 yen. Local currency yesterday rose to 52.65 British pounds from 52.27 pence and rose to 60.11 eurocent from 59.79 cents.

The two-year swap rate is 1.9 thousand percent from 1.9163 percent yesterday; The 10-year swap rate is 2.5150 out of 2.5600.


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