NZD/USD higher after the scorchingly hot inflation data, 3.3% y/y
Highest in around a decade for NZ inflation.
NZD/USD trading now above 0.7000:
Still to come:
0300 GMT the Reserve Bank of New Zealand releases their own preferred core inflation measure.
- 'Sectoral Factor Model Inflation Gauge', the Q1 was 1.9% y/y (see pic below)
- The RBNZ target band for core inflation is 1-3%