NZ Trade Minister O'Connor: Strong NZD is always a concern

Anil Panchal FXStreet

In his latest comments, New Zealand’s (NZ) Trade Minister Damien O'Connor raised concerns about the recent strength of the New Zealand dollar (NZD).

The diplomat conveys worries about the strong local currency considering the export-oriented nature of the economy.

Further, the NZ Trade Minister O'Connor rules out the link between the coronavirus (COVID-19) and New Zealnad meat, as recently chattered after meat products in China had traces of the virus.

NZD/USD slips below 0.6900…

Following the update, NZD/USD dropped from 0.6904 to 0.6891, currently around 0.6900, as unwelcomed comments from the Pacific nation’s government challenges the Kiwi bulls. Even so, RBNZ’s hawkish stand, coupled with the recent risk-on mood keeps the pair buyers positive near the highest since Thursday.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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