Late Change NZD/USD 0.8214 +0.0017 NZD/AUD 0.7734 +0.0002 NZD/JPY 65.295 -0.365 April 2013 Bond 3.14% +1.0 bp May 2021 Bond 4.97% -2.5 bps 10-Year U.S. Spread +207 bps -4.0 bps 90-Day Bank Bill 2.66% -1.0 bp WELLINGTON (Dow Jones)--The New Zealand dollar is trading higher Wednesday, reversing some of Tuesday's big losses as Chinese data showed the Asian economy continued to grow strongly. China's second-quarter gross domestic product rose 9.5% from a year earlier, compared with 9.7% growth in the first quarter, the National Bureau of Statistics said Wednesday. Economists had expected GDP to rise by 9.4%. Western Union Business Solutions corporate dealing manager Chris Hunter said this, along with a slight correction following "over reaction" earlier in the week, helped the Kiwi. "We saw yesterday an over reaction, more on rumor and speculation rather than anything factual," said Hunter. But he added that Federal Reserve Chairman Ben Bernanke's speech later in the global day was unlikely to have a huge impact on a market that remained dominated by the sovereign debt issues in Europe. New Zealand's first-quarter gross domestic product numbers are due out Thursday. The data has been delayed several times due to the Christchurch earthquake on Feb. 22 and is now seen as largely historical and unlikely to move markets substantially. The New Zealand government bond yield curve steepened Wednesday while interest rates swaps pushed higher. A local bond trader said there was still demand for bonds as they haven't rallied as much as those elsewhere in the world. "People are trying to buy our physical government bonds," he said. -By Lucy Craymer, Dow Jones Newswires; 64-4-471-5990; lucy.craymer@dowjones.com

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