NZD/USD Breaches $0.71, Robertson Says He Doesn't Want To Crash Housing Mkt

NZD/USD caught a bid Thursday as risk sentiment turned positive, with little in the way of market-moving headline flow seen in New Zealand. The rate pierced its 100-DMA, which had been intact since mid-Jun, and flirted with the 200-DMA. It managed to close above the $0.7100 mark for the first time since Jun 15.

• FinMin Robertson told interest.co.nz that he has "no desire to crash the housing market". The government still wants to see house prices rising, but at a slower, more sustainable rate.
• The RBNZ said they are formally seeking "views on its proposal to reduce risky mortgage lending by further reducing the amount of high Loan-to-Value Ratio (LVR) lending to owner-occupiers".
• Northland has moved to alert level 3, joining all areas south of Auckland. The government will provide the next update on alert levels on Monday.
• NZD/USD sits at $0.7113, just above neutral levels. A clean break above the 200-DMA at $0.7118 would prompt bulls to target Jun 15 high of $0.7161. On the flip side, bears would be pleased by a pullback under the 50-DMA/Aug 30 low at $0.6989/87.