NZ dollar jumps on stronger-than-expected GDP

WELLINGTON: The New Zealand dollar jumped and debt prices fell on Thursday after data showed the economy grew much more than expected in the fourth quarter.

The kiwi rose to a session high of $0.8283 from about $0.8225 before the data. The New Zealand currency appreciated broadly, climbing versus the Australian dollar, the yen and other currencies.

It retraced some of the gains and was last tarding at $0.8260.

Bank bills fell as much as four pips, while yields on government bonds rose around 1.5 basis points across the curve in the wake of the data.

Official data showed the economy grew 1.5 percent in the three months to Dec. 31 against expectations for a rise of 0.9 percent.

<Center><b><i>Copyright Reuters, 2013</b></i><br></center>