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Marginally Firmer, Narrow Ranges In Asia

NZD

NZD/USD prints at $0.6185/90, the pair is ~0.1% firmer today.

  • Kiwi is a touch firmer in Asia, however ranges remain narrow and moves have not had any significant follow through thus far.
  • NZD/USD briefly breached Wednesdays low however losses were pared as NZ Yields ticked higher. NZ US rate differentials, observed via 2 Year Swaps, have widened to +62bps today from +52bps yesterday.
  • AUD/NZD is ~0.1% firmer however the cross sits well below the $1.08 handle.
  • Cross asset wise; US Tsy Yields are a touch higher and E-minis are down ~0.1%. BBDXY is little changed.
  • Looking ahead the data calendar is empty for the remainder of the week. Wider swings in risk sentiment will be the main driver in NZD.

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