N.Z. Dollar depreciates as building permits fall and Aussie remains unchanged

The New Zealand Dollar dropped after data depicted construction approvals suddenly dropped, easing pressure on the Reserve Bank to switch to more contractionary monetary policy. The so-called kiwi worsened 0.1% to 85.60 U.S. cents and lost 0.1% to NZ$1.2094 versus Aussie, which remained almost unchanged and stood at $1.0353. During April 2013, the N.Z. Dollar has appreciated 2.9% versus the Australian peer and added 2.2% against the greenback, while Aussie has dropped 0.7% versus the U.S. Dollar.