NZD/USD Holds Gains Near 0.5900 Despite Weaker China PMI
The New Zealand dollar held firm around 0.5890 on Monday even as Chinese PMI data disappointed, showing resilience in the Asian session.
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NZD/USD maintained a positive tone near 0.5890 during Monday’s Asian trading, shrugging off weaker-than-expected Chinese purchasing managers' index readings. The kiwi's steadiness came despite the downbeat data from China, New Zealand's largest trading partner, which often pressures the currency.
The pair remained near the 0.5900 level, with traders focusing on other global drivers that continued to support the New Zealand dollar. No immediate reaction was seen to the Chinese economic figures, suggesting underlying demand.
Source: FXStreet Forex News