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Market mainly caught offside by the RBNZ.......>

KIWI
MNI (London)
KIWI: Market mainly caught offside by the RBNZ decision to keep rates unchanged,
most had expected them to cut the OCR by 25bps to 0.75%, the result saw NZD/USD
spike to $0.6417 from around $0.6330. Move also saw a sharp move down in AUD/NZD
from N$1.0813 to N$1.0669, though held off a retest of tech support at N$1.0665.
NZD move seen catching the market short, one Asian trader suggesting a break of
$0.6470 to squeeze. Kiwi did ease off highs to $0.6390 but has clawed its way
back to $0.6409 in early Europe.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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