New Zealand dollar edged up after improved jobs data

The New Zealand dollar rose on Wednesday, after the release of upbeat jobs data yesterday.

New Zealand's employment change index rose 0.6% in January, beating forecasts of 0.1%.

The unemployment rate fell to 4.9% in January, from 5.3% in December, and better than forecasts of 5.6%.

The labor cost index rose 0.5% as expected, after rising 0.4% in the previous reading.

Similarly, ADB data showed that the US private sector has added 174K new jobs during January, beating forecasts of 48K jobs.

As of 16:39 GMT, NZD/USD rose 0.1% to 0.7199, after hitting a high of 0.7226 points and a low of 0.7184.