NZ dollar falls as weak retail sales raise fears over economic growth

Mon, 21 May 2018

By Rebecca Howard May 21 (BusinessDesk) The New Zealand dollar fell against the greenback after first quarter retail spending was softer-than-expected, pointing to sluggish economic growth. The kiwi dropped to 68.97 US cents as at 5pm in Wellington versus 69.26 cents at 8am and 69.10 cents on Friday in New York. The trade-weighted index was at 72.50 from 72.58. Retail sales volumes rose 0.1 percent in the March quarter on an adjusted basis for seasonal and price effects, from a revised 1.4 percent gain in the fourth quarter, Statisti...

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