Currency Alerts

NZ Dollar Advances Further Against Most Majors

During New York mid-morning trading on Friday, the New Zealand dollar advanced further against most of its major counterparts.

The kiwi traded further higher versus the euro in mid-morning session and hit a fresh multi-year high of 1.5662 by about 11:00 am ET from early morning session's 2-day low of 1.5868.

The NZ dollar also extended its previous session's gain against its US and Japanese counterparts during New York morning and reached new multi-month highs of 0.8381 and 64.20, respectively, at around 11:00 am ET.

In today's morning session, a new government statistics showed that U.S. economy added far more jobs than were expected in the month of January.

The Labor Department report showed that the non-farm payroll employment jumped by 243,000 jobs in January following a revised increase of 203,000 jobs in December. Economists had expected employment to increase by about 140,000 jobs.

With the stronger than expected job growth, the unemployment rate unexpectedly fell to 8.3 percent from 8.5 percent in the previous month.

by RTTNews Staff Writer

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