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NZDUSD: Intraday Analysis & Forecast update

The New Zealand dollar gave ground to a strengthening US dollar but outperformed some other major currencies in early European trade on Thursday after government data showed the Kiwi economy exiting a technical recession in Q1.

It was quoted 0.18% lower around 0.6125, placing the kiwi in the upper half of the G10 table with gains over the euro, pound, Japanese yen, Swiss franc and Swedish krona, after Statistics New Zealand said GDP grew 0.2% last quarter.

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