Kiwi backs off two-month high after weak labor data

New Zealand dollar fell in Asian trade off December 5 highs for the fourth session out of five, following earlier disappointing data from New Zealand and ahead of US data later today. 

As of 02:58 GMT, NZD/USD shed 0.19% to 0.6763, with a session-high at 0.6778, and the lowest since January 25 at 0.6752. 

Earlier New Zealand data showed the unemployment rate rose to 4.3% from 4.0% in the third quarter of last year, missing estimates of 4.1%, while employment change only rose 0.1%, down from 1.1% in the third quarter. 

Now investors await US unemployment claims data for the week ending February 2, expected to show a surge of 33 thousand to 253 thousand from 22, while continuing claims are estimated with a 31K drop to 1.751 thousand from 1.701 thousand.