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The NZD - New Zealand Dollar weekly update 31 Jan 2012
In this week's
update:
Having advanced steadily against sterling for a month, the New Zealand dollar came to a halt in mid-January and has done very little during the last fortnight. Each of the last two weeks has cost the pound roughly a cent against the Kiwi, but its opening level in London this Monday was essentially unchanged from 12 January.
The NZ dollar did fractionally better than its Australian and Canadian cousins, helped by a couple of New Zealand economic statistics. Credit card spending in 2011 was up by 5.9% compared with the previous year – double the increase predicted by analysts. Business NZ's purchasing managers' index was five points higher in December at 51.9; the move above 50 means business activity is growing again. The trade figures were good too, turning November's NZ$307 million deficit into a NZ$338 million surplus in December.
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