Kiwi's strength may be short-lived

The New Zealand dollar made further gains over the weekend, still being driven by the slump in the greenback and a rebound in stock markets stoking investor risk appetite. However, most in the market believe that the kiwi will be unable to sustain these recent gains as the prospect of further poor domestic data this week could drag it back down again. This week sees the release of fourth quarter current account and gross domestic product data. Most analysts are expecting further evidence of a continuing deep recession, which has investors bracing themselves for possibly worse than expected figures.