NZ dollar dips

The kiwi dollar eased a little as weaker than expected data from China added to market concern about trade tensions. The kiwi was trading at US65.62c from US65.72c. The trade-weighted index was at 72.16 points from 72.22. The Chinese data showed retail sales rose 7.2 per cent in April, down from 8.7 per cent in March and missing expectations of an 8.6 per cent increase. The kiwi dollar was trading at 94.70 Australian cents from 94.66, at 4.5115 Chinese yuan from 4.5174, at 50.82 British pence from 50.91, at 58.54 euro cents from 58.61, and at 71.95 Japanese yen from 72.04. The New Zealand two-year swap rate fell to 1.5665 per cent, f the 10-year swap rate was at 2.0875.