NZ Dollar Dips on Chinese Data, Recovers

The New Zealand dollar fell today on poor economic data from China but was able to rebound and is currently trading near the opening level against the Japanese yen and above the opening versus the US dollar.
The kiwi fell today as data from China, the major New Zealand’s trading partner, was disappointing. The currency also weakened after a report about an earthquake in the South Pacific country, which was strong but deep, resulting in no major damage or injuries. The NZ dollar bounced as of now, but may yet drop as the inflation report, scheduled to be released by the end of this trading session, is expected to show that growth of consumer prices stalled last month.
NZD/USD was up from 0.8251 to 0.8266 as of 15:05 GMT today after falling to 0.8210 earlier. NZD/JPY traded at 86.00 after dropping from 85.99 to 85.49 intraday.

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