July 8, 2011
Ain’t no stopping the Kiwi baby! Once again, NZD/USD soared, rising 72 pips to close at .8331, a new all-time high! Okay fine, it beat the old record by just a few pips, but hey, the fact that it’s at all-time highs should mean something!
As long as traders are feeling risky and get the urge to put their money in higher yielding assets, look for them to park their money in the Kiwi. It’s benefitting from a nice commodity bull run, as well as higher domestic interest rates. If the economy recovers well from the disastrous earthquake earlier this year, the New Zealand dollar could make a case as the top performing currency of the year award.
"The only cable I watch is the pound baby."