Report from Radio New Zealand

NZD/USD ticked a few pips higher on the headline. It was already up about 30 pips on the day in steady bidding since the open.

RNZ was out with the report 5 minutes ago.

It includes new rules to make exporting to China cheaper and easier, the highest level of commitment to environmental standards China has made in any free trade deal, and giving the vast majority of wood and paper trade to China preferential access over the next 10 years.

Negotiations have been ongoing for years between China and New Zealand. Still, this is undoubtedly positive news for the kiwi in the longer term.