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NZD/USD sticks to modest gains near 0 7175-80 area, lacks follow-through

4/21/2021 7:59:46 AM GMT | By Haresh Menghani Upbeat NZ CPI report assisted NZD/USD to gain some positive traction on Wednesday. Renewed COVID-19 jitters benefitted the safe-haven USD and capped gains for the pair. The NZD/USD pair held on to its modest gains through the early European session, albeit lacked any strong follow-through buying and remained confined in a range around the 0.7175 region. Following the previous day s pullback of around 55 pips from one-month tops, the pair managed to regain some positive traction on Wednesday following the release of NZ inflation figures. According to data released by Statistics New Zealand, the headline CPI rose 0.8% in the quarter ended March and the yearly rate edged higher to 1.5%. The readings were slightly better-than-expected, which, in turn, extended some support to the NZD/USD pair.

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New Zealand Inflation Accelerates, Easing Pressure on Policy

New Zealand Inflation Accelerates, Easing Pressure on Policy
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