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RBNZ Governor Orr is helping to keep a lid.....>

KIWI
KIWI: RBNZ Governor Orr is helping to keep a lid on NZD by noting that the move
lower in NZD after Thursday's MPS is in his view "a good thing."
- Kiwi popped higher in early dealing on the back of a strong NZ Manufacturing
PMI release.
- NZDUSD last at 0.6963, back from highs of 0.6967. Daily studies correcting
from oversold levels remain the key concern for bears. Bulls now need a close
above yesterday's high (0.6996) to gain breathing room. While $0.6996 caps bears
retain the advantage and focus on Nov & Dec lows (0.6779-0.6815).
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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