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A fairly sedate session for the NZD, when......>

KIWI
KIWI: A fairly sedate session for the NZD, when compared to its Antipodean
cousin. NZD/USD hit a low of $0.6575 over the flash crash but drew support from
the pressure observed on AUD/NZD. Rate had already fallen earlier in the day and
last trades 25 pips or so lower at $0.6629, after it managed to close below the
100-DMA ($0.6676). Bears eye the flash crash low at $0.6575, ahead of the
November 2018 low at $0.6515. While bulls initially need to reclaim the
aforementioned 100-DMA.
- Broader risk appetite is set to drive the rate today. As an aside, Wednesday
saw the headline GDT price index rise by 2.8% at the latest auction, lodging a
third straight gain, while WMP prices rose by 1.2%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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