AUD/NZD slips below 1.28

<!--TITOL:

AUD/NZD slips below 1.28

FITITOL--> FXstreet.com (San Francisco) - The AUD/NZD pair opened at an eight-day high of 1.2810 this Monday in Asia, boosted by Europe's surprise debt deal ad positive weekend data out of China.

EU leaders agreed to let rescue fund inject aid directly into stricken banks and intervene on bond markets to support troubled member states. HSBC's China PMI came in at 50.2, beating the market at 49.9 and providing some relief from fears of a hard landing there.

The pairing may come under pressure if PMI data from around the Asian region comes in above 50, as China did over the weekend. At the time of writing, AUD/NZD has traded down to 1.2790 vs. 1.2781 late Friday.