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Marginally Firmer, Ranges Remain Narrow

NZD

NZD/USD sits at $0.6055/60, the pair is ~0.1% firmer today.

  • A move higher off session lows has been seen in recent dealing after another firmer-than-forecast Yuan fixing by the PBOC.
  • Ranges do remain narrow with a ~20 pip range persisting for the most part.
  • AUD/NZD has ticked away from the $1.08 handle and sits unchanged from opening levels.
  • New Zealand Q2 Farmer Confidence dropped to a record low. NZFF says 80% of farmers are now seeing bad economic conditions.
  • A thin local docket leaves wider swings in risk sentiment as the main driver in NZD ahead of the US CPI report.

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