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It has been a sedate start to the week for.....>

KIWI
KIWI: It has been a sedate start to the week for the NZD/USD cross, which trades
unch. at $0.6507 last.
- Risk off flows are capping the cross at present, as participants ignored the
uptick in the latest NZ services PMI release. NZ focus falls on tomorrow's CPI
release, which most expect to be boosted by transitory factors, as opposed to
capacity pressure. Markets will also await the release of the RBNZ's sectoral
inflation model, due later the same day.
- Bulls need a move above Thursday's high ($0.6533), while the YtD low ($0.6425)
offers the major area of support.
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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