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NZD/USD has benefitted from the softer USD.....>

KIWI
KIWI: NZD/USD has benefitted from the softer USD tone in recent sessions, with
the rate last dealing just shy of $0.6700.
- The kiwi shrugged off another fall (3.6%) in the headline GDT index at the
latest dairy auction, paying more attention to the broader USD weakness.
- NZ Q2 retail sales data provides the major NZ event risk today, ahead of the
release of the latest trade balance print on Friday.
- Bulls look to the $0.6750 area as the next major level of resistance, which
ties in with the levels seen ahead of the most recent, and dovish, RBNZ MonPol
decision.
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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