There was no repeat of the previous week's bonanza for commodity-related and emerging market currencies. This one belonged to the US dollar, which was lifted by only the second interest rate increase in a decade and, more importantly, the prospect of three more to come in 2017. The Greenback picked up a cent and a third - 2% - against the Kiwi and led the major currency field by a mile. Sterling shared third place, behind the Canadian dollar, with the Aussie and added one NZ cent.
Just two economic statistics were forthcoming from New Zealand. Manufacturing sales were up by 2.1% in the third quarter, almost but not quite matching the increase seen in Q2. The Business NZ purchasing managers' index, which looks at current and anticipated activity across the private sector, was half a point lower but still in positive territory at 54.4.