The surge by the kiwi came amid a lack of data from the New Zealand economy but it took place at the time of Australian dollar spurting against its counterparts buoyed by strong GDP results for first quarter.
The deals in late hours on Tuesday helped the N.Z currency to reverse its losses versus the majors and come back to its long term highs hit against them in the early deals.
Investors now turn toward the Reserve Bank of New Zealand`s rate decision expected on Thursday. The RBNZ is widely expected to hold the target rate at 7.75% this time.
The New Zealand dollar rallied against the U.S currency during late New York trading on Tuesday. Gaining ground at about 6:20 pm ET, the pair moved to 0.7556 from 0.7493. This reversed the losses suffered by the pair in the mid-morning deals, and brought it back to the multi-year high set recently.
From the range that held in the evening deals on Tuesday in New York, the kiwi rallied against the euro, which reversed the gains posted by the common currency in early trading. Of late, the pair is trading near 1.79 which is a 15-month high for the New Zealand currency.
The New Zealand currency reversed its losses suffered against the British pound in early New York trading on Tuesday, during the late hours. The surge by the pair made it equal the new multi-month high of 2.64, which was hit in the mid-morning.
The New Zealand currency rallied against the Japanese yen during late New York trading on Tuesday. This helped the pair to regain its multi-year high, which was collected in the early deals on the day. Recent deals came amid a lack of data from both the economies.
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