WELLINGTON: Figures from the New Zealand office of statistics showed better-than-expected export levels with kiwifruit exports leading the way and coming in for special mention. Following the release of the trade data, the NZ Dollar is advancing against the Pound Sterling.
The pound to kiwi rate rose from 1.8714 to 1.8736 in the five minutes following the release of New Zealand Trade data overnight, after the results showed a deeper-than-expected fall in the trade surplus in June.
The data may ratchet up pressure on the Reserve Bank of New Zealand (RBNZ) for further easing to try to devalue the currency, which would help make the country’s exports more attractive to potential buyers.
