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NZD Remains Firm In Quiet Asia-Pac Trade


It was a mixed and rather limited session for G10 FX. The kiwi outperformed at the margin, building on gains inspired by the RBNZ's latest Monetary Policy Statement. AUD/NZD faltered past Wednesday's low, as the Aussie struggled unlike its peer from across the Tasman.

  • The PBOC set the central USD/CNY mid-point at CNY6.4030, just 2 pips above sell-side estimates. BBG doppelganger of the CFETS RMB Index climbed to a three-year high, as did onshore and offshore redback, with China Securities Journal noting that the exchange rate should be decided by the market.
  • JPY and CHF as e-minis slipped, while NOK was dented by softer crude oil prices.
  • Focus moves to U.S. jobless claims, durable goods orders, pending home sales, the second Q1 GDP est. as well as Italian sentiment gauges & Swedish trade balance. Comments are due from ECB's de Guindos, de Cos, Weidmann & Schnabel, BoE's Vlieghe & Riksbank's Skingsley.

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