New Zealand employment data pushed Asian currencies up| MENAFN.COM

Wednesday, 29 June 2022 06:36 GMT

New Zealand employment data pushed Asian currencies up


(MENAFN– ecpulse)

New Zealand dollar and Australian dollar picked up against major currencies, after New Zealand economy released labor market data showing improvements more than expected, which backed Asian currencies to gain.

Unemployment in New Zealand declined in the fourth quarter of last year to 6.0% from a previous 6.2%, along with higher employment change that rose 3.0% from 2.4%.

Furthermore, the cheerful fundamentals support NZD to pick up against the U.S. dollar to record the highest in this week at 0.8255, before the pair fall again to 0.8188 levels.

NZD/JPY rose to the highest this week at 83.91, before the pair decline again to 83.13 levels.

Nevertheless, the Australian dollar gained against the Japanese yen and U.S. dollar, after New Zealand fundamentals and also supported by the central bank`s statements on Tuesday that signaled a close interest rate hike.

AUD/USD rose to a two-week high at 0.8940, and the pair is currently trading around 0.8883. AUD picked up against yen to 90.88, and then fell to 90.13.


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