Markets

New Zealand dollar extends decline after GDP disappoints

Published June 19, 2013 Updated June 19, 2013 11:20pm

1 min

By Asad Naeem

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SYDNEY: The New Zealand dollar suffered a further blow on Thursday in the wake of data showing the local economy grew at a slower pace than expected in the first quarter.

Already under pressure against a resurgent US dollar, the kiwi dropped a quarter of a cent to a session low around $0.7842 . New Zealand GDP rose 0.3 percent on the quarter, undershooting a forecast rise of 0.6 percent.

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