NZD/USD Retreats Near 0.6000 After Hitting Eight-Month Highs

NZD/USD is currently pulling back from its recent eight-month high of 0.6055, trading near 0.6010 during the Asian session. This decline can be attributed to the New Zealand Dollar’s challenges as it reacts to softer-than-anticipated Terms of Trade Index data.

With the latest data showing only a 1.9% quarter-on-quarter increase, falling short of expectations, the NZD’s performance will be under scrutiny. Market reactions to economic data can greatly influence currency pairs.