NZ Dollar falls
Posted June 14th, 2007 by Dr James Pratt
The New Zealand dollar fell a third of cent against the United States dollar in quick time today, after Statistics New Zealand reported retail sales fell a seasonally adjusted 1.2 per cent in April.
The unexpected fall was a sign an economic slowdown, long hoped for by the Reserve Bank, could be on its way.
A slump in vehicle sales accounted for nearly half the 1.2 per cent decrease.