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NZD/USD Hits Multi-Year High

FOREX

Strength in antipodean FX persisted throughout the Friday session, prompting a new multi-year high in NZD/USD printed up at 0.6950, clearing the best levels seen in 2019 to narrow the gap with December 2018 high of 0.6970.

Initial USD weakness faded into the Friday close as EUR/USD was sold into the Friday WMR fix. Ranges, however, were tight, providing few new technical or fundamental signals as markets begin to hone in on the December FOMC meeting as the next flashpoint for price action.

NZD, AUD and GBP were the strongest Friday, with SEK, EUR the weakest.

Focus turns to global prelim November PMI numbers, IFO numbers from Germany and FOMC minutes. Thanksgiving holidays in the coming week, however, could keep market action light.

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