The New Zealand dollar is the top performer today as it shrugs off risk aversion and takes advantage of US dollar weakness. The catalyst was a report from Fitch with an upgraded view of New Zealand’s AA-rating.
NZD/USD rallied as high as 0.8806 in early European trading then faded back to 0.8780. A second rally at the start of US stock trading topped at 0.8805. Technically there is little — if any — technical resistance until the 2011 high of 0.8843.
NZD/USD daily
