The New Zealand dollar declined today. The currency fell even as the business confidence improved, though remained in the negative territory.
The ANZ business confidence index rose from -37.8 in January to -19.0 in February. That means that a net 19% of businesses are pessimistic about the year ahead. The report stated:
We may not have a lot of altitude just yet, but we’re off the end of the ski jump and no longer heading downhill.
NZD/USD slipped from 0.7232 to 0.7222 as of 15:20 GMT today, and its daily low of 0.7208 was the lowest since February 9. NZD/JPY dropped from 77.60 to 77.26.