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NZD/USD struggled on Tuesday, against the......>

KIWI
KIWI: NZD/USD struggled on Tuesday, against the backdrop of a stronger USD, with
EM worry front and centre, and a pullback in the AUD/USD adding additional
weight.
- The NZD discounted the results of Tuesday's GDT auction (the 9th fall in 12
for the headline GDT index), with WMP largely in line with market pricing.
- Pressure continued overnight as the rate made a fresh YtD low ($0.6530) before
recovering to last deal at $0.6550,  - Early dealing saw a limited reaction to a
miss in NZ Q2 building work in place.
- AUD/NZD has consolidated its recent move higher, to last deal at NZ$1.0970,
after a brief foray above NZ$1.1000 on the back of AU GDP, with bulls eying a
close above the August 24 high (NZ$1.0987).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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