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The kiwi was offered across the G10 currency...>

KIWI
KIWI: The kiwi was offered across the G10 currency board yesterday, despite the
absence of any specific drivers. NZD/USD gave away 31 pips as the psychological
$0.6600 level provided support. The rate showed a very muted reaction to softer
than exp. PBoC fix & misses in Chinese inflation figures amid a continued
pick-up in risk appetite, but then sold off into the London morning and remained
limited since.
- NZD/USD struggles, last deals -12 pips at $0.6603. A source has flagged
speculative accounts covering AUD/NZD shorts.
- The aforementioned $0.6600 figure provides the initial bearish target, with a
break clearing the way to the Dec 18 low of $0.6554. Conversely, a jump through
the 21-DMA at $0.6647 would put bulls in the position to target the Jan 6 high
of 0.6680.
- NZ highlights next week include building permits (Tuesday), food price index
(Wednesday) and BusinessNZ m'fing PMI (Friday).

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