The NZD/USD has continued to slip lower, to trade justabove 0.8420 this morning. There have been a range of influences on the NZD overthe past 24-hours. Yesterday morning’s 2Q PPI data(output -0.5%) was in line with indicators leading up to therelease, but seemed to catch the market by surprise. Thecurrency’s response (dip) to what would normally be a littlewatcheddata-point shows the market’s current inclinationto sell the NZD. It appears to be looking for excuses tocontinue the downtrend.
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