NZ dollar bounces back after digesting weak Australian inflation data

Fri, 26 Apr 2019

By Jenny Ruth April 26 (BusinessDesk) - The New Zealand dollar rose, mainly reflecting a retracement against the Australian dollar following weaker-than-expected Australian inflation data on Wednesday. The kiwi was trading at 66.43 US cents at 5pm in Wellington from 66.21 at 8am and rose to 94.56 Australian cents from 94.42. The trade-weighted index rose to 72.56 points from 72.39. “It’s just the market digesting those inflation numbers and re-evaluating the balance. The pressure’s on the Reserve Bank of Australia to cut rates, or mo...

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