NZD/USD Reaches 1-Month Highs
NZD/USD rose sharply and scored fresh 1-month highs during the New York session, as the last gauge of US economy health before Fed’s meeting, the nonfarm payrolls, came in much weaker than expected, weighing on the greenback.
The kiwi took advantaged and rose more than 100 pips over the minutes that followed the release and peaked at 0.6966, scoring its highest level in a month. At time of writing, NZD/USD is trading at 0.6936, recording a 1.9% gain on Friday and headed for its first weekly gain in four.
Data showed, US economy added 38,000 new jobs in May, well below expectations of 164,000 and marking its weakest reading in over 5 years, diminishing expectations of a Fed rate hike in June.