Kiwi nears three-month high as commodites advance

The New Zealand dollar rose on Tuesday to near a three-month high on the back of higher commodity prices and upbeat manufacturing data from around the world, underpinning the kiwi as a commodity currency.
 
NZD/USD last traded at 0.7265, up from the opening of 0.7234, with an intraday high at 0.7277, and a low at 0.7209.
 
Kiwi's current rise came on the back of higher commodity prices, specially industrial metals like copper, while higher crude prices underpinned the kiwi as well.
 
On the other hand, upbeat manufacturing data from the U.S. and the Eurozone underpinned demand on commodity and their respective currencies, while the greenback still trades near a six-week low against a basket of rivals.
 
The dollar index, tracking the greenback against an array of six major counterparts, rose to 100.10 from the opening of 100.05, with an intraday high at 100.42, and a low at 99.90, which comes after a steep decline yesterday.