Sept. 22 (Bloomberg) -- New Zealand’s dollar pared earlier gains against its U.S. counterpart after a government report said the economy expanded in the second quarter less than economists estimated.
The currency traded at 80.24 U.S. cents at 10.47 a.m. in Wellington from 80.14 U.S. cents yesterday in New York and 80.54 cents before the data was released. It fetched 61.46 yen from 61.27 yen yesterday.
Statistics New Zealand said the economy expanded 0.1 percent from the previous quarter, compared with the 0.5 percent median growth estimate in a Bloomberg News survey of economists conducted before the report.
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