Losses in NZD/USD following US data on Wednesday were short-lived as a reversal quickly erased the data-driven decline and took the pair to new highs for the week. The rally in the currency pair has served to erase losses from the prior two-day decline to take the exchange rate back into positive territory for the week. The US consumer price index was reported to rise 0.6% in January, marking the largest gain in three years. Analysts were looking for a 0.3% gain and a rise of 0.3% was reported in the prior month. Core CPI rose 0.3% versus an expected rise of 0.2% and a gain of 0.2% in December. Retail sales, released ... (full story)