NZD/USD bears step in at the highs and pressure below 0.6250 – by fx_ross NZDUSD Currencies Fed DollarIndex
Kiwi is under pressure despite the flows from overnight and positive news from China for commodities.is down by some 0.27% and has fallen from a high of 0.6257 to a low of 0.6238, giving back some of the gains made midweek following the data that showed a revival in Chinese demand that bolstered commodity prices.
However, the kiwi then benefited from a bout of speculative buying after the China Non-manufacturing activity grew at a faster pace in February, while the Caixin/S&P Global reading for last month likewise surpassed. The offshore yuan jumped 1.3% to 6.8683 per dollar, set for its largest one-day gain since late November.
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