NZD/USD extends gains and hits 3-day highs

By FXStreet FXStreet (Córdoba) – The New Zealand dollar is among the top performers on Thursday and against the US dollar extended gains. NZD/USD having the best day in weeks but is still below the level it opened in Monday.

NZD/USD strong recovery

Yesterday the pair managed to end off daily lows; earlier today moved slightly to the upside and then pulled back, weakened amid a decline in commodity and emerging market currencies but remain mostly resilient. It bottomed at 0.6268 and then rebounded.

After the beginning of trading in Wall Street broke above 0.6300 and jumped to 0.6339 reaching the highest level since Monday. Form yesterday’s lows it has risen almost a hundred pips.

The kiwi is being supported by trade data from New Zealand and after an improvement in Fonterra payout for NZ farmers.
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Source:: FX Street