The Kiwi was the main loser among the G10s, coming under massive selling interest due to New Zealand’s disappointing CPI for Q1. The wounded currency recovered some of those losses a few hours later, aided by China’s better-than-expected GDP for the quarter. The pound was also lower, feeling once again the heat of Brexit related headlines. Specifically, sterling slid following reports that Corbyn said talks with the government have stalled. As for today, we have the UK and Canadian CPIs on the agenda.
Kiwi Falls on Disappointing Inflation, China’s GDP Beats Expectations
The dollar traded mixed against the other G10 currencies on Tuesday. It gained against NZD, CHF and GBP, while it underperformed versus AUD, SEK, CAD and NOK in that order. The US currency traded virtually unchanged against EUR and JPY.
The main loser was the Kiwi, which tumbled on New Zealand’s disappointing inflation data for the first quarter of 2019. Specifically, the qoq CPI rate remained unchanged at +0.1%, instead of...
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