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Firmer As Risk-On Tone Develops

NZD

NZD/USD prints at $0.6400/10, ~0.5% firmer today, with only NOK a better performer in G-10 space at the margins.

  • An offer in USD/JPY, likely driven by the move above 0.5% in 10 year JGB yield, has spilled over into further USD weakness. NZD/USD has broken through $0.64, bulls look to sustain the break of the key level.
  • AUD/NZD is little changed as the pair see-saws around the 200-day EMA at $1.0913. NZD/JPY is ~0.4% firmer, last printing at ¥81.80.
  • Cross asset flows have seen a mild risk on tone develop, with both USD softer and local and regional Equities are firmer.
  • With a light regional data calendar for the remainder of the session wider swings in risk appetite will be the main driver for NZD.

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