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NZD/USD tracked the USD's broader fortunes.....>

KIWI: NZD/USD tracked the USD's broader fortunes overnight with a lack of
idiosyncratic drivers for the NZD apparent. NZD/USD last trades at ~$0.6585.
- This comes after NZD/USD came under pressure in early dealing on Wednesday as
the rate made a fresh YtD low ($0.6530) before recovering as the USD softened,
and AUD/NZD retreated from the AU GDP inspired highs.
- Early-Asia dealing on Thursday saw the rate extend above $0.6600, taking out
resistance at the figure to register a session high at $0.6616, with the next
level of resistance noted at Monday's high ($0.6624). Bears look to the
aforementioned YtD low as an initial target.
- RBNZ Gov. Orr is due to speak tomorrow, but the speech will likely focus on
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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