The New Zealand dollar did manage to gain ground against both the US dollar and sterling although its climb higher was rather erratic. 

New Zealand’s Manufacturing PMI for March came in lower at 54.7 from the previous months 55.9, briefly weighing on the currency. The Kiwi did however rebound, climbing to a high of $0.6893 against the US dollar, helped by firmer NZIER house prices and house sales. China’s quarter one GDP result of 6.7% further added reason to buy the Kiwi, which is ending the week with a firm tone against both the US dollar and sterling.