[NZD/USD]

[NZD/USD] followed its Aussie cousin higher reaching an intraday high around the 0.5745/50 level filling selling orders at the 0.5740 level. Corp names who had delayed covering their exposure were rumoured to have been big buyers just above the 0.5700 handle. The pair was also given a prop by heavy buying in the Nzd/Jpy cross by Japanese accounts and invt bank which saw the cross surmounting the 56.00 handle. With risk appetite soaring on the back of firmer Asia/Pacific stocks, stops located at 0.5770 will be under threat. Fresh bids at 0.5685 will now provide support.