Q4 New Zealand retail sales +2.2% vs +0.8% exp

• Sales rose 2.2% in the previous quarter
• Sales up 8.0% year-over-year vs +5.5% expected
• Ex-autos up 2.9% q/q and +7.6% y/y

Suspicious rise in NZD in the lead-up to the report and now we’re at 0.8335.