NZD/USD falls to 1-week lows after NZ inflation data

FXStreet (Córdoba) - The NZD/USD dropped from 0.8640 to 0.8592 in seconds, reaching the lowest price since April 7, after the release of inflation data in New Zealand from the first quarter that was below expectations. The Kiwi tumbled across the board following CPI numbers.

After bottoming, the NZD/USD rebounded, managed to rise above 0.8600 and currently trades at 0.8609, down 0.33% for the day so far, headed toward the second daily decline in a row and retreating further after reaching multi-year highs last week above 0.8700.