NZD/USD last deals at $0.6404, unchanged on....>

KIWI: NZD/USD last deals at $0.6404, unchanged on the day.

- Improving risk appetite failed to translate into any material gains for the

kiwi on Wednesday, and NZD/USD finished 12 pips south of the prior close after a

couple of forays below the $0.6400 barrier. The rate bounced from Asia-Pac lows

as sentiment recovered & the PBoC fix was slightly better than exp., but these

gains proved short-lived and the pair eased off into Europe. A subsequent

recovery attempt failed to allow NZD/USD to retest earlier highs, and the rate

faded as the greenback gained some poise, helped by less dovish than hoped

minutes from the most recent FOMC policy meeting.

- The Aug 7 cycle low of $0.6378 draws the initial downside attention and a fall

below would bring the trendline resistance-turned-support at $0.6369 into play.

Bears need a break below to maintain the recent momentum. Bulls look to recover

the $0.6421-23 zone, which registered a couple of lows this month.

- NZ focus turns to domestic retail sales ex inflation, due on Friday.