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NZD/USD tracked the broader USD swings on......>

KIWI
KIWI: NZD/USD tracked the broader USD swings on Tuesday, with Monday's low of
$0.6725 acting as a base. The cross last deals at $0.6735, well within the
broader $0.6690-$0.6860 range observed since the start of July.
- The latest GDT dairy auction had little impact on the Kiwi with headline index
prices flat this time out after 4 consecutive declines.
- The RBNZ's inflation expectations survey for Q3 is due later today, and could
be of particular interest in the wake of the Q2 sectoral CPI model which edged
higher.
- The RBNZ will issue its latest MonPol decision on Thursday, with no change
expected focus will fall on comments from Gov. Wheeler & the latest MPS
(economic projections). Inflation over the medium term looks a little more
questionable, with participants looking for the Bank to re-iterate that it is
clearly on hold, with a degree of 2 way risk to the headlines i.e. the next move
in rates could be up or down.
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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