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NZD/USD has picked up a bid as RBNZ Gov Orr....>

KIWI
KIWI: NZD/USD has picked up a bid as RBNZ Gov Orr said that the MPC can "afford
to wait, watch and observe what's happening." Orr also reiterated that rate cuts
help to avoid doing more in future & that employing unconventional policy is far
from the central scenario. 
- On the other hand, however, he pledged to do "whatever it takes" to support NZ
economy and noted that the RBNZ will assess the situation in Nov and cut the OCR
if needed. Yet, the mention of being in a position to "wait and see" seemingly
captured more attention.
- The rate last sits at $0.6390, 23 pips better off. A break above the Aug 7 low
of $0.6378 clears the way to the nearest round figure above. Above the $0.6400
mark would open the 0.6421-23 zone, which registered a couple of lows this
month.

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