The New Zealand dollar extends gains despite weak Chinese economic data, reaching its highest level since early June.
The New Zealand dollar (NZD) rose to 0.5920 against the US dollar (USD), marking its highest level in two months. The move extends a recent uptrend as the USD weakens broadly across major currencies.
Prior to this, the NZD had struggled to break above 0.5900 since early June, with traders closely watching Chinese economic indicators due to New Zealand’s trade exposure. Monday’s data from China showed weaker-than-expected activity, yet the NZD held firm.
Market reaction remained muted, with the currency pair consolidating near the 0.5920 level following the move.