NZ dollar sinks back to 70 US cents after US GDP, gains vs euro on weak inflation data

Thu, 30 Mar 2017

By Jonathan Underhill March 31 (BusinessDesk) - The New Zealand dollar fell against the greenback after US fourth-quarter gross domestic product was revised up and gained versus the euro after weaker than expected inflation data from Spain and Germany. The kiwi dollar declined to 70.02 US cents as at 8am in Wellington from 70.26 cents late yesterday. It rose to 65.48 euro cents, the highest in 10 days, from 65.33 cents. The third estimate for US fourth-quarter GDP was a revision up to 2.1 percent annualised rate from 1.9 percent previo...

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