The New Zealand dollar rode a wave of positive economic data today, including a strong survey of business confidence and better than expected Australian retail sales data.
By 5pm the NZ dollar was worth US72.12c, up from US71.55c at 8am and US71.91c at 5pm yesterday. The NZ dollar rose above US72c after the economic reports.
The Australian dollar jumped today as the better than expected retail sales data fuelled speculation of an earlier interest rate hike.
The Australian dollar was US87.92c by 5pm from US87.49c at the same time yesterday.
Against the Australian dollar the NZ dollar slipped to A81.99c from A82.17c yesterday.
New Zealand business confidence rose in the National Bank of New Zealand business outlook survey for September released today.
"There is no doubt that housing and construction remain at the forefront of the improvement in confidence, although sentiment is clearly diffusing through the wider economy," National Bank economists said.
The NZ dollar was 45.00p after rising to 45.44p on Tuesday night. It was 45.14p at 5pm yesterday.
It was at 64.73 yen from 64.69 yen yesterday and 0.4932 euro from 0.4916.
The trade weighted index rose to 65.57 from 65.49 yesterday.
- NZPA
Dollar rises on improved data
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