NZD marked higher after NZ CPI data higher than expected

The data is here:

The y/y came in at 6% vs. 5.9% expected. For more, see that link above.

Both the q/q and y/y are down from Q1. The Kiwi$ has been marked higher, I’m not sure that is sustainable. These numbers seem unlikely to sway the Reserve Bank of New Zealand from its watching brief for now. Market pricing is edging towards a November 25bp rate hike though.

NZD/USD higher:

This article was written by Eamonn Sheridan at Source