Earlier data out of NZ on terms of trade confirmed they are at their highest ever
Good prices and (relatively) resilient exports provide the NZ economy with a buffer.
Mix in RBNZ Governor Orr shrugging his shoulders on NZD strength:
Around the policy announcement a couple of weeks ago RBNZ officials attempted to jawbone the NZD lower ... Of course some longs would have bailed leaving the market not as long as it was and opening up the topside a little.
NZD taking further advantage today:
ps. Hope you didn't miss this post:
