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NZD/USD last deals at $0.6616, 2 pips lower....>

KIWI
KIWI: NZD/USD last deals at $0.6616, 2 pips lower on the day. The kiwi
underperforms all of its G10 peers but the greenback.
- Hawkish comments from U.S. TR Lighthizer & U.S. Tsy Sec Mnuchin weighed on
NZD/USD from the off, with a Global Times's op-ed, suggesting that China is
"ready for temporary breakdown in talks," also fuelling concerns.
- The pair spiked to $0.6630 in the wake of the latest RBA MonPol decision,
which put a bid into the Aussie, before easing off somewhat.
- Worth noting the latest NZ quarterly 2-year inflation expectation edged lower
to +2.01% from the prior +2.02%.
- A topside breach of the downtrend resistance, which kicks in at $0.6636, would
expose the 21-DMA at $0.6681. Meanwhile, bears look for a dip through $0.6600
towards the Apr 25 low of $0.6580, the worst level post-Jan 3 flash crash.
- NZ focus today turns to the results of the latest GDT auction, due in the
London afternoon. Wednesday's Asia-Pacific session will see the first RBNZ
MonPol decision taken by the enlarged MPC, with OIS pricing in a ~37%
probability of a 25bp cut.

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