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The NZD/USD hovers in familiar territory.......>

KIWI
KIWI: The NZD/USD hovers in familiar territory last dealing at ~$0.6715, after
the rate stuck to a tight range on Wednesday.
- Resistance is noted at Tuesday's high ($0.6727), with a break opening up the
potential for a move to the pre-RBNZ decision area (~$0.6750), while support is
noted at ~$0.6670.
- NZD showed little reaction to a softer than expected NZ building permits
release in early dealing. Today's ANZ business confidence survey headlines the
NZ docket this week. As a reminder last week saw RBNZ Gov. Orr reiterate that
the biggest risk to the NZ economy comes in the form of business investment, so
the upcoming release may come under more scrutiny than usual.
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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