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

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).