The Kiwi rose slightly against the American peer in a wake of the report showing the better-than-expected CPI growth for New Zealand. The NZD/USD exchange rate fluctuated between the 0.7180 and 0.7220 levels to initially appreciate to the 0.7195 mark further determined as a resistance level.
Statistics New Zealand report showed that the country’s consumer inflation grew 0.5% in the September quarter, while the yearly CPI increase was at 1.9% in the reported period, where better growth was driven by food and housing costs. However, the strong figures were unlikely to change the Central Bank’s determination to keep its key interest rates unchanged over the years.
