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ANZ On NZD

KIWI

ANZ note that "the NZD has been reasonably steady overnight and has not participated in USD weakness that has resulted from hopes that a US fiscal stimulus compromise can be arrived at, and on hopes that Trump will soon leave hospital. Home-grown NZD support had been evident last week as short end rates popped higher, but equally the overall message from the RBNZ remains a dovish one. The RBA is not expected to cut today, but their tone will say a lot and the NZD's correlation with the AUD looks to be weighing on it as we start the day."

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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