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NZD/USD coming under modest pressure as the....>

KIWI
KIWI: NZD/USD coming under modest pressure as the NZ Tsy's HYEFU provides a
2018-19 GDP growth forecast of 2.9%, against budget estimates of 3.8%. The
update has also provided narrower budget surplus estimates for both 2018-19 &
2019-20.
- Rate last deals at $0.6847, 10 pips lower on the day, after struggling
Wednesday. Rate has slipped back below the 21-DMA & 200-DMA at $0.6851/49, with
bears looking for consolidation below to allow them to target yesterday's low of
$0.6825. Bulls need a move back above the aforementioned MA's to allow them to
refocus on the $0.6900 area which capped on Wednesday.
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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