SYDNEY, April 20 (Reuters) - The New Zealand dollar jumped on Thursday after data showed inflation accelerated at a faster pace than expected in the first quarter, narrowing the odds on an eventual hike in interest rates.
The kiwi currency NZD=D4 rose to $0.7032, from $0.7004, after the consumer price index climbed 1 percent in the March quarter, topping forecasts for a 0.8 percent increase. ECONNZ
The annual pace of inflation picked up to 2.2 percent, putting it back above the middle of the Reserve Bank of New Zealand's 1 to 3 percent target band for the first time since 2011.