New Zealand Dollar Surges as Retail Sales Grow at Record Pace
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New Zealand’s dollar climbed at least 0.7 percent on Thursday against all 16 major peers after government data showed retail sales grew last quarter at the fastest pace since at least 2003.
The kiwi jumped to a one-week high versus the U.S. dollar after the statistics bureau said total retail sales volume surged a record 2.7 percent in the March quarter. Australia’s dollar extended its advance against the greenback as the U.S. currency retreated following weaker data out of Washington.