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NZDUSD squeezed to $0.6469 overnight...........>

KIWI: NZDUSD squeezed to $0.6469 overnight following remarks from RBNZ Asst Gov
Hawkesby, reiterating that the Bank is watching inflation expectations and
noting unconventional policy tools are contingent on whether "inflation tanks,"
but the latest rate cut has decreased the chance of deploying them.
- NZDUSD stalled around the 50% retracement level of yesterday's sharp fall in
the wake of the RBNZ's shock 50bps rate cut. Expect further resistance through
the $0.6480/00 area which registered a series of previous lows through May-Jul.
Technical indicators remain heavily oversold with an RSI reading of 25. NZDUSD
holds $0.6450/55 at typing.  

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