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Spill over from the AUD's weakness limited.....>

KIWI
KIWI: Spill over from the AUD's weakness limited the NZD on Friday, after the
soft NZ business confidence data weighed on the kiwi on Thursday. The late
uptick in the USD also weighed on NZD/USD on Friday, leading to a clean break of
support around $0.6620.
- The softness continued in early dealing on Monday, as NZD/USD breached
Friday's low ($0.6607). The ensuing bounce (from $0.6594) has been a little more
limited than that seen in AUD/USD, with AUD/NZD drawing support as it operates a
touch above some of its key moving averages. NZD/USD last ~$0.6610. Bears
continue to focus on the YtD low ($0.6645).
- There is a limited NZ docket apparent over the next week.
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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