NZD/USD is back to almost unchanged levels.....>

KIWI: NZD/USD is back to almost unchanged levels and last deals at $0.6881.

- Worth mentioning RBNZ Dep Gov Bascand spoke today, stating that the plan to

increase bank capital requirements could reduce the cost of borrowing for the

government. Bascand also denied that the new rules would impair economic growth.

Little to no reaction to Bascand's speech was noted in the FX space.

- A familiar technical picture remains in play and bulls continue to look to

$0.6902, where the rate peaked Monday. A break above would bring the 1.0% 10-DMA

envelope at $0.6919 into view. Conversely, bears target Monday's low/21-DMA at

$0.6840/37.

- NZ focus turns to trade balance data due tomorrow, biz. confidence due

Thursday and building permits due Friday.