NZ Dollar Falls As New Zealand Economic Growth Slows

The New Zealand dollar fell today after a report showed that the New Zealand economic growth slowed last quarter. The currency managed to trim losses by now, erasing them against the US dollar entirely.

Statistics New Zealand reported that gross domestic product rose 0.5% in the March quarter of 2018 from the previous three months. It was a slower rate of growth than 0.6% registered in the December quarter of 2017 but matched analysts’ expectations.

NZD/USD rose from 0.6864 to 0.6876 as of 16:16 GMT today after falling to 0.6826 intraday — the lowest level since December 8. EUR/NZD rose from 1.6852 to 1.6871.

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