New Zealand Dollar Rebouns Slightly on Favorable Trade Balance

The New Zealand dollar has been impacted by a decline in risk appetite globally on growth concerns in Europe and North America, but today, after the country’s trade balance showed a smaller trade deficit, the currency rebounded.
The kiwi, as the South Pacific currency is often referred to, rebounded from the lowest rates in almost a month as a decline in the nation’s imports allowed the negative trade balance gap to tighten, being that a favorable reason to allow the New Zealand currency to make a correction and pare its losses partially.
NZD/USD traded at 61.98 from as low as 60.88 prior to the trade balance data publication.
If you want to comment on the New Zealand dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.