Late Change NZD/USD 0.8269 -0.0021 NZD/AUD 0.7808 -0.0081 NZD/JPY 63.895 +0.215 April 2013 Bond 3.015% +8.0 bps May 2021 Bond 4.435% +8.0 bps 10-Year U.S. Spread +241 bps -1.0 bp 90-Day Bank Bill 2.92% -1.0 bp WELLINGTON (Dow Jones)--The New Zealand dollar was trading lower late Wednesday but did pare some of its overnight losses on positive Asian equity markets and better-than-expected Australian data. "Equity markets out this part of the world are stronger; Aussie GDP numbers are strong. It has probably dragged the Kiwi with it," said ANZ foreign-exchange manager Murray Hindley. The Kiwi opened the session sharply lower after Switzerland's aggressive action Tuesday to weaken its ultra-strong currency. However, it tracked the Australian dollar higher on news that Australia's gross domestic product rose 1.2% in the second quarter from the previous three-month period and 1.4% from a year earlier. Economists had expected GDP to rise 1.0% on a quarterly basis and 0.7% on year. The Kiwi was also supported when Asian stocks rallied, despite weak leads from the U.S. A lack of local data means the New Zealand dollar will "continue to take its cue from developments in global risk appetite," said BNZ FX Strategist Kymberly Martin. Traders noted that while risk appetite has improved in the Asian session, European fiscal austerity issues are still very much at the fore. The market's focus is also shifting to the Bank of Canada's interest rate decision later in the global trading day, but ANZ's Hindley said the main focus will be on the European Central Bank later in the week. He said short-term support should hold around US$0.8240, with resistance at US$0.8320. Government bond yields pushed higher, tracking movement in the Australian market, a local bond trader said. The trader noted that the government's planned bond tender for Thursday is fairly small, reflecting a lack of demand. -By Rebecca Howard, Dow Jones Newswires; 64-4-471-5990; rebecca.howard@dowjones.com

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