NZ Dollar Rises as Inflation Accelerates Beyond Expectations

The New Zealand dollar gained today after a report released overnight showed that inflation accelerated last quarter more than was expected.
Statistics New Zealand reported that the Consumer Price Index rose 0.9% in the September quarter from the previous three months. That is compared to an increase by 0.7% predicted by analysts and the 0.4% gain registered in the prior quarter. Annual inflation was at 1.9%.
NZD/USD gained from 0.6547 to 0.6580 as of 10:45 GMT today, reaching the high of 0.6595 intraday. EUR/NZD dropped from 1.7672 to 1.7598, and its daily low was at 1.7560.

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