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Kiwi Lags In Quiet Asia-Pac Morning

FOREX

NZD marginally underperforms its G10 peers in early Asia-Pac trade, even as there has been little to rock the boat on the wires so far. New Zealand's retail card spending rose 1.7% M/M in May after a 4.4% increase in April. The downtick in NZD has been relatively shallow and NZD/USD still hovers above yesterday's low.

  • All major USD crosses are little changed in muted Asia-Pac trade. The regional calendar lacks any tier 1 risk events.
  • The latest monetary policy decision from the ECB & U.S. inflation data will grab attention later in the day. Speeches are due from ECB Pres Lagarde, BoC Dep Gov Lane & BoE Chief Economist Haldane.

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