The NZ dollar was stuck in the middle of the pack with nothing to choose between it, the euro and the pound. It moved higher against the US dollar, as did every other major currency. In the Kiwi's case the gain was worth 1.1%. The US dollar's fall was the result of policy meeting minutes from the Federal Reserve which cast doubt on the Fed's resolve to push ahead with two or three more interest rate increases this year.

Economic data and news from New Zealand were almost non-existent. The sole statistic was the GDT index of milk prices, which did not make particular good reading as it was down by -3.9%. The UK data were more prolific and more positive. The monthly purchasing managers' index surveys of private sector companies reported improvements in both current and expected activity.