The New Zealand dollar sank during the current trading session after official data showed that inflation expectations worsened. The currency reached the lowest level in a week and a half against its US counterpart.
The Reserve Bank of the New Zealand reported that short- and long-term inflation expectations deteriorated in the first quarter of this year. The data highlighted worsening outlook for the New Zealand economy. It had a clear impact on the NZ dollar as the currency was trying to rally at the start of the session but sank after the data came out.
NZD/USD was down from 0.7521 to 0.7447 as of 12:58 GMT today, trading near the lowest level since February 13. NZD/JPY fell from 89.35 to 88.95.
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