NZD extends hot streak as market trims........>

FOREX: NZD extends hot streak as market trims expectations of aggressive easing

-The Kiwi is comfortably the best performer in G10 Wednesday, extending its

recent winning streak to eight consecutive sessions and tipping NZD/USD back

above $0.6650. The RBNZ kept rate unchanged and hinted that further easing may

be needed over time, but stopped short of committing the bank to additional rate

cuts in the near-term. This helped tip the currency higher (lifting AUD in the

process), with bulls now targeting $0.6682 and the 100-dma at $0.6698.

-The greenback continues to benefit from the less-than-dovish comments from

Fed's Bullard late yesterday (talking down the suitability of a 50bps rate cut),

keeping the major pairs under pressure and prompting the likes of EUR/USD and

GBP/USD to pull back from recent recovery highs. JPY is the weakest in G10,

however, as Japanese PM Abe overnight stated his government would not hesitate

to take measures to counter downside risks.

-Attention shifts to May prelim US durable goods orders and the appearance of

BoE's Carney, Cunliffe, Tenreyro and Saunders in front of the UK Treasury Select

Committee. They're due to discuss the May Quarterly Inflation Report.