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NZD/USD shed a dozen pips overnight and last...>

KIWI
KIWI: NZD/USD shed a dozen pips overnight and last sits at $0.6776, as kiwi
suffered alongside AUD after NAB hiked its variable mortgage rates by 12-16bp
citing an increase in funding costs, with market reaction driven by the RBA's
perceived reaction function owing to the wealth effect. This came after NZD
started the session on the front foot, extending on yesterday's post-NZ CPI
strength. 
- Worth mentioning BNZ raised Fonterra 2018-2019 milk price forecast to
NZ$6.25kg from NZ$6.00/kg. 
- Bears need a fall through the 21-DMA/yesterday's low of $0.6752/43 before
targeting the Jan 17 low of $0.6728. Meanwhile, initial topside attention is
drawn by the 50-DMA at $0.6795 breached overnight and a break above would open
up yesterday's peak at $0.6798.

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