There are not many occasions in which the currency news deals with the New Zealand dollar: even those who buy wool or butter make purchases in US$, and the vicissitudes of the exchange rate are at the expense (or for the benefit) of the producers in that antipoid island. But sometimes the NZ dollar is the harbinger of larger moves. New Zealand is a small and open economy, and if it's not a monoculture it's close: its strengths are farmed products, from meat to dairy products and wool, as well as fruit. But precisely because it is tossed about by the international cycle, its currency acts as a weather vane, and the recent strength of the NZ dollar (even the Governor of the Central Bank, Alan Bollard, said he was surprised) indicates that the demand for raw materials in the world ( food but not only) remains strong and bodes well that the current slowdown in the international cycle is just a pause.
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10731318
http://www.nzherald.co.nz/trade/news/article.cfm?c_id=96&objectid=10730610
The New Zealand currency is perhaps under traded. But it is a valuable indicator
In recent weeks, for example, it is very strong. A sign that the demand for raw materials such as meat, dairy products, wool and fruit is robust and bodes well for the post-crisis
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