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NZDUSD underperformed overnight and last.......>

KIWI
KIWI: NZDUSD underperformed overnight and last sits 20 or so pips softer at
$0.6955. 
- Media reports noting that the US is ready to slap tariffs on $50bln worth of
Chinese goods isn't particularly new but was enough to weigh on risk appetite,
and therein the NZD, particularly when coupled with WSJ reports suggesting that
China is ready to retaliate to the tariffs.
- The cross sits below $0.6975 (21-DMA) and $0.6960 (the high from May 28), with
$0.6880 (the low from May 30) providing the next notable support level.
- Focus is on next week's Q1 GDP release.
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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