The NZ dollar was not among the leaders but it a better week than the British pound, as did all the other major currencies. It strengthened by two and a half cents against sterling and was fractionally lower against the US dollar. The Kiwi was outshone by the Australian dollar, which touched a five-month high on its way to becoming the week's top performer.
October's balance of trade figures were the only NZ ecostats of the week. They were a slight disappointment, in that imports and exports both came in below forecast. However, they did no great damage and the Kiwi was able to take advantage of the increase in oil prices which helped all the commodity-related currencies. Whilst it lost out to the Aussie it kept pace with the Canadian dollar and the South African rand.