Kiwi rebounds as the New Zealand retail sales increase in 1Q 

By @ibtimes on

The New Zealand currency (Kiwi) rebounded against its major currencies, especially versus the US dollar, after the New Zealand reported that retail sales has soared by 0.9% in the first quarter of the year, increasing the demand for the Kiwi.

Meanwhile, the New Zealand dollar also advanced as stock gains boosted demand for the currencies of commodity exporters, along with the cheerful data about the Chinese economy, where China' industrial production continued to accelerate, adding that New Zealand products will increase this period because the Chinese market is the largest market for New Zealand goods.

The NZD/USD pair soared to compensate yesterday's losses, while the pair recorded the highest level at 0.8213 and the lowest level at 0.8136.

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