29 Apr 2014

Kiwi flat despite strong NZ trade data

9:53 pm on 29 April 2014

The New Zealand dollar fell about half a cent on Monday night against the US dollar because of data from that country, and remained pretty flat through Tuesday.

ASB Bank's head of institutional foreign exchange sales, Tim Kelleher, says the country's strong trade data wasn't enough to move the dollar.

At the end of the local business day, the dollar was trading at 85.25 US cents, 92.16 Australian cents, 50.7 British pence, point-6149 euro, 87.35 yen, 5.33 renminbi.

The country recorded its highest ever trade surplus for a March month driven by higher-valued dairy exports, with China being the prime destination.

Official figures show the country recorded a surplus of $920 million, compared with a surplus of $732 million in the same month last year.