NZD/USD recovers modestly

FXStreet (Córdoba) - The kiwi is falling sharply across the board on Thursday weakened by inflation numbers from New Zealand that came lower that expected. NZD/USD has been able to recover ground but is still sharply lower for the day, trading 100 pips below the level it had a day ago.

The pair dropped sharply from 0.7930 to 0.7830 after inflation data, reaching the lowest price in a week. Afterwards moved with a slighty bullish bias, making a modest recovery.

Ahead of Wall Street opening bell trades at 0.7850/55, after finding resistance at 0.7868, on its way to the worst daily result since October 3.