Nuhey News

We talk about the MARKET

Following inflation figures, the Australian dollar surges as the kiwi falls

The Australian dollar rose sharply against the New Zealand dollar on Friday as data showed Australian inflation picked up in the first quarter, while New Zealand inflation remained weak. The Australian dollar was up 0.8 percent against the New Zealand dollar at 0.9179 after the Australian Bureau of Statistics reported that the consumer price index rose 0.6 percent in the first quarter, beating expectations of a 0.4 percent rise.

The New Zealand dollar, meanwhile, weakened after the Reserve Bank of New Zealand reported that the country’s consumer price index fell 0.2 percent in the first quarter, missing expectations of a 0.1 percent rise. The Australian dollar also rose against the US dollar, gaining 0.3 percent to 0.7774, while the New Zealand dollar edged lower, falling 0.1 percent to 0.7154.