- After jumping to a high of 0.6218, the NZD/USD retreated to 0.6155 as bulls struggle to gain momentum.
- ADP and ISM Services PMI came in above expectations.
- Hawkish bets on the Federal Reserve made the 2-year yield jump to their highest level since 2007.
The NZD/USD pared daily gains and fell towards the 0.6155 area as expectations of further tightening by the Federal Reserve (Fed) underpined the USD. In that sense, the hot ADP figures and strong Service sector data from the US favored a more aggressive stance by the Fed.
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