NZD/USD Off Fresh Highs, But Dips Towards 0.6200 Supported

NZD/USD moved away from recent highs just above 0.6250 post the Asia close on Monday. Dips towards 0.6200 were supported though, and in early Tuesday trade we sit in the 0.6210/15 region, having gained less than 0.10% for Monday's session.

• Despite a fresh marginal high in Monday trade, NZD/USD remains broadly within recent ranges. Note on the downside the 20-day EMA is near 0.6130.
• Broader USD sentiment was relatively steady , with the BBDXY finishing close to unchanged at 1226.75 for the session.
• Yen weakness was noticeable (losing ~0.50%), as core yield recovered. US 10yr yield back to 3.94% (+2.6bps). Some push back on 2024 cut pricing helped the yield backdrop.
• NZD/JPY got above 89.00 but couldn't sustain those levels, the pair last tracking near 88.80. A firmer US equity tone also likely aided yen crosses.
• For NZD/USD we have Nov trade figures coming up shortly. Later on, the Dec ANZ activity and business confidence readings are due.
• Also note the RBA mins print later, while the BoJ decision could also impact NZD/JPY.