Posted On: January 19, 2012
Wall Street Journal: A weak reading of fourth-quarter Consumer Price Index numbers in New Zealand resulted in the local currency suddenly dropping from its previous high of $0.8081 US. Chris Hunter, Corporate Dealing Manager for Western Union Business Solutions in Auckland, comments for the Wall Street Journal.
Wall Street Journal:
WELLINGTON (Dow Jones)--The New Zealand dollar was trading largely unchanged late Thursday after the release of surprisingly weak fourth quarter Consumer Price Index data led to some selling in the local unit.
The New Zealand dollar touched a high of US$0.8081 prior to the release of the CPI data, Bank of New Zealand strategist Kymberly Martin said, but fell sharply following the release.
Data from Statistics New Zealand showed Thursday that the CPI fell 0.3% on quarter in the three months ended Dec. 31, down from a 0.4% rise in the third quarter and well below a median forecast of a 0.3% rise in a Dow Jones Newswires poll of 14 economists. The index rose 1.8% on year, also below expectations for a 2.6% rise.
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Category: Media Coverage
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