NZD/USD flows: Q2 CPI Lower Than Expected

The Q2 New Zealand CPI has edged higher from Q1 but lower than expected at 0.5% q/q and 2.7% y/y. The higher CPI was previewed by RBNZ in their last meeting and the lower than estimate figure seems to support market anticipation of another cut soon. 

It took the legs out of Kiwi and see NZD/USD down 0.09% at 0.5955 with a session low at 0.5938.