NZD/USD Weighed By China Data; Tipped To Improve
Asia-Pacific exchange net America 2010-01-21 11:33:23
NZD/USD under renewed pressure following weaker-than-expected economic data from China, says Bank of NZ strategist Mike Jones; "On balance the data is not as strong as what the market had factored in." Pair last at 0.7199 vs 0.7190 early in NZ but down from 0.7234 it reached after stronger-than-expected NZ retail sales data earlier in day. Tips Kiwi to gain slightly as believes fall slightly "over done;" tips 0.7180-0.7350 range.