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NZD/USD has shrugged off the latest round of...>

KIWI
KIWI: NZD/USD has shrugged off the latest round of comments from RBNZ Gov Orr as
he offered little new, pointing to satisfaction with where rates are at present
& noting the ongoing assessment of unconventional MonPol measures, in case they
are ever needed. The rate last sits at $0.6332, barely changed on the day.
- Risk aversion driven by mix of well-documented developments around the
Covid-19 outbreak pulled the rug from beneath the kiwi, helping it to a fresh
three-month low.
- Yesterday's slide was moderated by support from a series of lows printed in
mid-Nov. The trough of Nov 8 at $0.6322 provides the initial bearish target and
a break here would bring the Oct 16 low of $0.6241 into view. Conversely, a
break above the $0.6400 mark would encourage bulls to target the Feb 19 high of
$0.6411.
- Local retail sales & credit card spending data take focus next Monday. Trade
balance & ANZ biz. conf. hit on Thursday, with ANZ cons. conf. due Friday.

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