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NZD/USD soars and climbs above 0.7900

FXStreet (Córdoba) - NZD/USD erased losses and rose back above 0.7900 after rising sharply in few hours amid a decline of the US dollar in the currency market.

The pair bottomed earlier at 0.7821, after US economic data and then managed to stabilize around 0.7845. After Wall Street opening Greenback lost momentum and turned sharply lower pushing NZD/USD back above 0.7900.

The kwi printed a fresh daily high at 0.7902 and is approaching yesterdays’ high that lie at 0.7927. If it breaks above it would be trading at the strongest since October 29. The pair is on its way to the first weekly gain after falling in the previous three, having the best result since June.

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