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NZD has taken a leg lower as the NZ Tsy........>

KIWI
KIWI: NZD has taken a leg lower as the NZ Tsy explicitly noted that "gauging the
effects of the deterioration in confidence over the past year or so is a key
challenge for the Treasury's forthcoming Half-Year Economic and Fiscal Update
(to be released on 13 December)," with the obvious potential for downside risks
around that specific matter.
- NZD/USD last ~20 pips or so lower at $0.6642. Bulls need a close above the
September 27 high at $0.6678, which would then open up Friday's high of $0.6690.
Bears will take comfort from the move back below the 100-DMA at $0.6664,
allowing them to look to the 55-DMA at $0.6584.
- The latest RBNZ MonPol decision and NZ labour market report headline the NZ
docket this week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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