Against the Chinese yuan, the kiwi jumped to 4.8734 yuan from 4.8231 yuan. Photo / File
The New Zealand dollar fell from a month-high after US inflation and industrial figures showed the slow recovery in the world's biggest economy is on track, giving the Federal Reserve room to hike interest rates this year.
The kiwi declined to 71.64 US cents as at 8am in Wellington from
72.04 cents late yesterday. The trade-weighted index fell to 78.46 from 78.72.
The US consumer price index rose 0.3 per cent last month, in line with market expectations, for an annual increase of 2.1 per cent, the fastest in more than two years.
Industrial production rose 0.8 per cent in December versus expectations of a 0.6 per cent gain. Traders are awaiting a speech by Federal Reserve chair Janet Yellen after San Francisco Fed president John Williams said there was a "good case" for three rate hikes this year while more may be needed if president-elect Donald Trump makes good on promises including tax cuts.
By contrast, the Reserve Bank's official cash rate track shows little intention to raise rates in the next three years.
