Despite worrying trends in the New Zealand unemployment rate, the New Zealand dollar recovered 0.4% against the US dollar from Wednesday's low of 0.58605. New Zealand's HLFS unemployment rate for the second quarter, announced on Wednesday, was 5.6%, a record high in more than a decade. Futures pricing still shows that the probability that the Bank of New Zealand will raise interest rates in September is 86.8%.

Despite worrying trends in the New Zealand unemployment rate, the New Zealand dollar recovered 0.4% against the US dollar from Wednesday's low of 0.58605. New Zealand's HLFS unemployment rate for the second quarter, announced on Wednesday, was 5.6%, a record high in more than a decade. Futures pricing still shows that the probability that the Bank of New Zealand will raise interest rates in September is 86.8%.