On Thursday the New Zealand dollar rose over 1% versus the US dollar to a
two-week high of 0.5763 and also strengthened versus the Australian dollar after
robust manufacturing data raised odds of further RBNZ tightening. New Zealand
manufacturing grew at its fastest pace in nearly five years last month, and the
RBNZ governor said economic expansion is stronger than expected. Market
participants said the RBNZ's shift to a more hawkish stance has supported the
currency; Monex FX trader Andrew Hazlett said if the bank raises rates further
he expects additional NZD appreciation into year-end.
