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The kiwi took flight as the RBNZ's expected...>

FOREX
FOREX: The kiwi took flight as the RBNZ's expected decision to leave the OCR on
hold was accompanied by marginally hawkish rhetoric. The MPC signalled that they
see no changes to the OCR this year, focused on the fiscal impact on the economy
and assumed a short-lived fallout from the coronavirus outbreak.
- AUD has clung to the tailcoats of its Antipodean cousin & appreciated in
tandem. JPY is the worst G10 performer, further pressured by a spike in NZD/JPY.
- RBA's Heath & NZ FinMin Robertson spoke this morning & both highlighted
coronavirus outbreak as an important economic risk.
- USD/Asia mostly trade lower. KRW faded its initial losses vs. USD registered
initially as South Korea's unemployment unexpectedly rose to 4.0% from 3.7%.
- RBNZ Governor Orr will start his presser at the top of the hour. At the same
time, PM Ardern will address NZ lawmakers. Coming up later today we have a
monetary policy decision from the Riksbank, EZ industrial output and comments
from ECB's Lane as well as Fed's Powell & Harker.

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