ANZ note that "kiwi strengthened further.......>

KIWI: ANZ note that "kiwi strengthened further overnight, and seems comfortable

in the high $0.64s. Price action overnight was again all about equites and

general risk appetite and nothing particularly NZD-specific. Fed minutes were

dovish but not dovish enough for the bond market, but they also portray a sense

of frustration given the enormity of the challenges that lie ahead. The sheer

size of the US economy means that the focus of Fed policy has to necessarily be

domestic, but central banks like the RBNZ are arguably better placed given that

they can try to stimulate via the exchange rate. That's both a risk to the NZD

and something that's clearly on the RBNZ's radar given talk of foreign asset

purchases."