NZ dollar falls on weaker-than-expected jobs data

Wed, 01 May 2019

By Jenny Ruth May 1 (BusinessDesk) - The New Zealand dollar fell on perceived weakness in March-quarter jobs data, even though the unemployment rate of 4.2 percent was bang on expectations. The kiwi was trading at 66.50 US cents at 5pm in Wellington, off the day’s low at 66.35 but down from 66.79 at 8am. The trade-weighted index dropped to 72.46 points from 72.77. The market focused on the fall in the participation rate from 70.9 percent to 70.4 percent and the 0.2 percent fall in employment in the quarter – the market had been expecti...

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