NZD/USD touched 0.7720 in the moments following the release but has quickly retraced to 0.7705. The third quarter was strong but there appears to have been a revision because the year-over-year numbers were lower than forecast.
No change in the 2.50% RNBZ rate is expected at through the middle of 2012, with a decent bias toward a rate cut. There’s nothing in this report to change that.
