NZ Dollar Drops as Trade Surplus Shrinks

The New Zealand dollar fell today as the trade balance surplus shrank last month more than was expected by market participants, adding to concerns about slowdown of global growth.
The New Zealand trade surplus narrowed from NZ$732 million in March to NZ$157 million in April. The median forecast was at NZ$495 million. The worse-than-expected data spooked traders, who were already worried by the global developments.
NZD/USD fell from 0.8132 to 0.8101 (the daily low was at 0.8064) and NZD/JPY declined from 82.97 to 82.07 as of 11:12 GMT today.

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