NZ Dollar Falls as Current Account Deficit Widens

The New Zealand dollar dropped today after the government report showed the nation’s current account deficit widened in the second quarter of this year.
New Zealand’s seasonally adjusted current account deficit was $2,041 million in the quarter ended in June 2011. This is $507 million above the deficit of the previous three months. Tomorrow’s government report is expected to show the consumer prices inflation slowed to 0.5 percent in the second quarter compared to 0.8 percent in the first quarter.
NZD/USD fell from 0.8240 to 0.8187 and NZD/JPY dropped from 62.94 to 62.49 as of 13:43 GMT today.

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