February 6, 2013 / 10:01 PM / 5 years ago

NZ dlr falls after jobless data

WELLINGTON, Feb 7 (Reuters) - The New Zealand dollar fell on Thursday after weaker-than-expected domestic jobs data cooled speculation that interest rates in the country may rise soon.

The kiwi fell to around $0.8385 following the data, after initially jumping as high as $0.8446. It was weaker than $0.8420 before the figures. The kiwi weakened versus other currencies, including the Australian dollar, the euro and the yen .

Data showed that New Zealand’s jobless rate fell more than expected to 6.9 percent in the fourth quarter, because a large number of people had given up looking for work, with employment falling 1.0 percent, compared with forecasts for a 0.4 percent rise.

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