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New Zealand 4Q Gross Domestic Product (QoQ) improves to 1.5% vs 0.2%

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Forex: Kiwi emboldened by rosier NZ GDP print

The New Zealand Dollar is flying higher across the board after upbeat GDP numbers in the country. The NZ GDO in the forth quarter (YoY) came in above expectations at 3.0% vs 2.3% expected and prior read of 2.0% in Q3. Meanwhile, the QoQ figure in the Oct-Dec period stood at 1.5% vs expectations of +0.9% and a previous read of +0.2%. NZD/USD has penetrated an area of heavy supply at 0.8268/78 before retracing towards 0.8255/60, where bids are coming back.
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