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NZD/USD hits 6-day high on soft US data

FXStreet (Córdoba) - NZD/USD benefited from disappointing US data and rallied to a fresh 6-day high as the greenback is being heavily sold-off.

In the data front, US retail sales fell 0.3% in September, recording its first decline in eight months. Meanwhile, producer price index dipped 0.1% (seasonally adjusted), posting the first decline in more than a year.

USD came under strong pressure as investors seem to be pushing back expectations of a rate hike by the Fed in the light of recent data.

NZD/USD advanced to its highest level since October 9 at 0.7917 before losing steam and it is currently trading at 0.7905, recording a 0.84% gain on the day.

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