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NZD/USD broke through resistance at...........>

FOREX
FOREX: NZD/USD broke through resistance at ~$0.6640 on the back of stronger than
exp. NZ GDP, registering a high of $0.6653, last $0.6645. Bulls are now looking
to resistance at the 50-DMA ($0.6677), followed by the 30 August high ($0.6717).
AUD/USD was dragged higher by NZD initially, before AUD/NZD sales capped.
- GBP was immune to a late round of Brexit headlines in the Asia crossover. The
BBC perhaps offered the best summary, noting that UK PM May has urged EU leaders
to focus on getting a Brexit deal done over the next 6 weeks, stressing that the
negotiations will not be extended. The dinner event in Salzburg saw the PM
insist to the EU that it must rethink its stance on the Irish border. Various EU
leaders (including Juncker) pointed to a lack of progress, both before & after
the dinner, vindicating earlier reports from the Times that capped GBP on
Wednesday after it had benefitted from a stronger than exp. CPI release.
- NAFTA talks continued, although there has been little progress noted.
- JPY garnered a modest bid, leaving USD/JPY at Y112.20 last.
- Focus turns to Norges Bank & SNB MonPol decisions, UK retail sales, as well as
addresses from ECB's Weidmann & Praet & the EU leaders summit in Salzburg.
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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