NZ dollar rebounds as inflation data beats market forecasts

Mon, 18 Apr 2016

By Jonathan Underhill April 18 (BusinessDesk) - The New Zealand dollar recovered ground mid-morning after government figures showed inflation higher than the market expected, keeping the central bank on track to cut interest rates in the next two months. The kiwi rose to 69.22 US cents as at 5pm in Wellington, from 68.68 cents at the start of the day, when it opened weaker as the price of crude oil fell. It had closed at 69.15 cents in late New York trading on Friday. The trade-weighted index rose to 73.06 from 72.71 on Friday. The con...

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