NZD/USD Just Shy Of 0.6300 Amid Broad USD Losses

NZD/USD tracks in the 0.6290/95 region in early Friday trade, just below session highs (0.6295). The USD suffered broad based losses, the BBDXY making fresh lows to sub 1220 (-0.60%). NZD's gains were around middle of the pack from a G10 standpoint, up around 0.70%.

• Bullish momentum remains in play for NZD, with a break above 0.6300 likely to leave July 18 highs at 0.6344 in focus, beyond that lies 0.6412, the high from the 14th of that month. The 20-day EMA continues to trend higher, last at 0.6166.
• The USD faltered on improved risk appetite in the equity space, the SPX and Nasdaq both up over 1%.
• US yields were volatile, down on US GDP revisions, but IJCs were better than expected. The 2yr Tsy yield finished at 4.35%, +2bps for the session, the 10yr +4bps to 3.89%.
• NZD trailed JPY despite the better US equity tone. NZD/JPY is tracking near 89.50 in early Friday trade, down around 0.20% for Thursday's session.
• The local data calendar is empty today, leaving NZD at the whim of broader risk trends.