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NZD/USD last $0.6554, 9 pips higher on the.....>

KIWI
KIWI: NZD/USD last $0.6554, 9 pips higher on the day after sticking to a 20 pip
range overnight. The rate tracked gyrations in broader risk appetite.
- The press reported that NZ Tsy is investigating a potential leak of budget
material. The budget is due to be delivered on Thursday, as planned, ahead of
FinMin Robertson's post-budget speech, due Friday.
- Below $0.6514/13, where the rate posted lows on May 17 & May 14 respectively,
would expose the downtrend resistance-turned support, which kicks in at $0.6503.
On the topside, the 21-DMA at $0.6572 draws the initial attention and a break
here would open $0.6600.
- The RBNZ will publish its Financial Stability Report tomorrow, which will be
followed by a presser and parliamentary testimony from RBNZ Gov Orr.
- On the data front, ANZ business confidence comes out tomorrow, while building
permits are due on Thursday.

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