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The New Zealand dollar falls to a two-month low, dragging the Australian dollar lower as well
On October 16, Jinshi data reported that the New Zealand dollar fell to a two-month low against the US dollar, following a lower-than-expected increase in the New Zealand CPI for the third quarter. The Australian dollar was also dragged lower. The New Zealand dollar/US dollar once fell 0.7% to 0.6040, the lowest level since August 19. The Australian dollar/US dollar fell 0.5% to 0.6669. The New Zealand bond yield curve bull market steepened, with the two-year yield falling 4 basis points to 3.88%.