New Zealand Dollar Up Late as Risk Aversion Abates

 
   By Lucy Craymer 
 

        WELLINGTON, New Zealand--The New Zealand dollar is trading slightly higher late as concerns about global economies and soft commodity prices ease.
        The New Zealand dollar was at US$0.7727 versus US$0.7628 late Monday and at A$0.9506 versus A$0.9465.
        RBC currency strategist Sue Trinh said the New Zealand dollar had moved slightly higher during the session against the U.S. dollar as "the risk aversion that dominated most of the European and North American session overnight and even the Asian session yesterday" has stalled, supporting the New Zealand dollar.
        "Commodity currencies are the out performers and that includes the Kiwi... The data proved to be the catalyst for a short squeeze higher in what was otherwise a stagnant market," said Ms. Trinh. She said the Australian trade deficit "was not as bad as feared" while the HSBC China services purchasing managers index "came in a bit better than the previous one" and this had given an excuse for the New Zealand dollar to move higher.
        Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer
        (END) Dow Jones Newswires

        January 06, 2015 00:15 ET (05:15 GMT)

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