The US GDP q/q figures were uninspiring. This dampened the speculation in the markets that the FED might increase the interest rates sooner than expected. Central-bank Chair Janet Yellen said after a Fed meeting last week policy makers remain committed to low interest rates for a “considerable time” after ending a bond-purchase program they have used to spur growth. The Fed held its benchmark rate target at zero to 0.25 percent, where it’s been since 2008, while trimming monthly bond-buying to $35 billion, on pace to end the program late this year.
Almost zero interest rates in US and high interest rates in New Zealand are making NZD/USD carry trade popular amongst the investors. NZD is near a record high. So this carry trade is very profitable for those who had entered earlier.