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ANZ Look To RBNZ MPS For Fresh Direction

NZD

ANZ note that "volatility and USD strength are the two main themes in FX markets as we get underway this morning. The USD DXY index inched higher again, supported by generally better than expected data, but on the Kiwi side of the equation, price action has been whippy, with bullish sentiment tinged with a touch of caution as EUR, GBP and JPY soften against the big dollar. The moves in and out of lockdown have had little impact and we now look to next week's RBNZ MPS for fresh direction. We expect the RBNZ to acknowledge the better outlook, but to remain cautious, which speaks to NZD elevation rather than further strength."

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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