“Severe economic slowdown” comments from NZ Treasury cited as reason for NZD selling

From a New Zealand Treasury fortnightly report issued March 15 (bolding mine):

• A range of indicators released over the fortnight confirm
  New Zealand is in the midst of a severe economic
  slowdown and implies there was another quarter of roughly
  flat GDP in December and ongoing declines on a per
  capita basis.

PM Luxon spoke to this last week:

• New Zealand’s Prime Minister Luxon says is seeing a deterioration in economic conditions

Anyway, that’s the reason being cited for the kiwi $ sell off. AUD and CAD were hit too so I’d take it with a grain of salt.

And its all coming back as I update:

This article was written by Eamonn Sheridan at www.forexlive.com.