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NZD dives on weak CPI data

 The New Zealand dollar was sharply lower but off its lows as positive economic data from China and euphoria over the government’s decision to can a capital gains tax helped cushion the impact of a weaker than expected inflation print.

The kiwi was trading at 67.30 at 5pm in Wellington, off the day’s low at 66.95 and compared with 67.60 at 8am, while the trade-weighted index sank to 72.85 points from 73.21.

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