It’s been a v-shaped sort of night for the NZD/USD. After flirting with recent lows below 0.7740, a slide in the USD and JPY soon dragged the currency back above 0.7800. Yesterday’s Chinese data helped the NZD and AUD start the week on the front foot. The slowing in GDP growth to 7.5% was bang in line with expectations, but probably a little stronger than the ‘whisper’ numbers circulating following recent softish rhetoric from the Chinese administration.
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