[NZD/USD]

[NZD/USD] started the session around the 0.5680 level as the better than expected Feb building consents coming in at 11.6% afforded minimal assistance in the pair's rise to an intraday high around the 0.5690/95 level. The pair has since retreated back to an intraday low around 0.5650 level in sympathy with the Eur/Usd slipping down on the back of market chatter of a Spanish regional bank needing a bailout. Light selling in the Nzd/Jpy by Japanese margin accounts on the back of a weaker Asian stock market also weighed on the NZD/USD.