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Narrow Ranges On Wednesday

NZD

NZD/USD prints at $0.5950/55, the pair is a touch above opening levels.

  • A narrow $0.5940/55 range has persisted for the most part today, there has been little follow through on moves thus far in the Asian session.
  • There is a large option expiry, based on the latest DTCC data, at todays NY cut with ~$311mn at a strike of $0.5945.
  • AUD/NZD is also observing narrow ranges as the cross consolidates below the $1.08 handle.
  • Cross asset wise; US Equity Futures and Regional Equities are firmer and US Tsy Yields are ~2bps lower across the curve.
  • A thin docket leaves wider swings in risk sentiment as the main driver in NZD.

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