New Zealand Dollar Can’t Avoid Losses

The New Zealand dollar followed other commodity currencies in decline even though domestic macroeconomic data was beneficial to the currency as New Zealand’s consumer inflation was higher than specialists had anticipated.
The Consumer Price Index rose 0.3 percent in the September quarter from the previous three months. This is compared to the medium forecast of 0.2 percent growth. Still, the New Zealand dollar declined, the same as its Australian counterpart. Apparently, risk appetite that has been supporting riskier currencies is now leaving the market.
NZD/USD dropped from 0.6847 to 0.6811 and EUR/NZD advanced from 1.6596 to 1.6700 as of 13:45 GMT today.

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