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Better offered since the European Govie open

USD
  • USD remains better offered since the EU open, albeit within overnight ranges.
  • NZD was the biggest winner overnight following the hawkish RNBZ, but we are just off the high now.
  • The NZDUSD is now highest in a week, with initial target seen further out to the 200d SMA at 0.7076.
  • Pound is of course underpinned following the CPI beat this morning, but gains are limited, with Covid concerns still weighing as we are set to fully re-open on Monday.
  • Small resistance for Cable moves down to 1.3856

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