New Zealand dollar traded up against major currencies following the release of NZ Q4 full year trade deficit data in early Asian trading on Thursday. The kiwi is currently trading near new multi-month high of 1.2262 against the Aussie, compared to yesterday's close of 1.2335.

The NZ dollar also showed strength against other major currencies and as of now worth 0.5695 against the US dollar, 2.3873 versus the euro and 55.58 against the eyen.

New Zealand posted a trade deficit of NZ$16.1 billion for the full year ending in December 2008, according to a data released today by Statistics NZ. The deficit amounted to 8.9 percent of GDP.

The agency said the deficit grew from NZ$15.5 billion for the year to September 2008, which represented 8.6 percent of GDP.

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