NZD/USD quickly bounces and reaches 2-week highs in the NFP aftermath

The Kiwi fell to session lows immediately after the release of stronger-than-expected US nonfarm payrolls, but managed to bounce to fresh 2-week highs in the subsequent minutes.

The risk appetite triggered by the NFP offset dollar strength and sent NZD/USD from the 0.7210 to the 0.7300 area in a matter of minutes. The pair peaked at 0.7294, and it continues to challenge highs, recording a 0.8% daily gain.

US economy added 287,000 jobs in June, beating expectations of 175,000 and marking the strongest level since October. Meanwhile, However, the unemployment rate rose to 4.9% in June from 4.7% in May.