Data released on Monday showed an unexpected rebound from -24.60 to 10.8, against expectations of -18.0. The numbers boosted further the US Dollar while the Kiwi is lagging again.
Earlier on Monday, data from New Zealand showed a 0.8% increase in the Food Price Index during March and a modest decline in the Business NZ PSI in March to 54.4 from 55.8. The key report this week in New Zealand will be Q1 inflation early on Thursday.
NZD/USD is trading at 0.6175, at the lowest level since March 22. The pair is holding below previous April lows, looking vulnerable, near the 200-day Simple Moving Average that stands at 0.6160.
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