NZD/USD rally runs out of gas as New Zealand CPI disappoint

The NZD/USD price is in a tight range as traders react to New Zealand’s third-quarter inflation data. It is trading at 0.6667, which is slightly below yesterday’s high of 0.6690. New Zealand consumer prices rise Consumer prices in New Zealand bounced back in the third quarter as the country continued its recovery process. The headline consumer price index (CPI) rose to 0.7% in the quarter, pushing the annual rate of inflation to 1.4%. The median estimate by analysts polled by Reuters was for a 0.9% quarter-on-quarter increase and a 1.7% year-on-year increase. According to Statistics New Zealand, the rise in