USD holds firm, NZD sinks to multi-year.......>

FOREX: USD holds firm, NZD sinks to multi-year lows

- NZD sits at the top of the G10 pile with losses of 0.48% against the USD. The

RBNZ left policy unchanged and maintained its neutral bias overnight. AUDNZD

spec buyers were quick to pounce, downward momentum continued into Europe with a

move to multi-year lows of $0.6754.

- The broadly stronger USD pressured the EUR, mixed Spain/Saxony (fall in the

core reading) added weight to $1.1527, before oversold conditions in the 14-day

RSI (15) aided its recovery.

- GBP felt weight in early Europe, BoE Cunliffe BBC radio remarks that noted

concern over household debt and gave no hints that he would move over to the

hike camp pressed to 7-month lows of $1.3066.

- China FX continued defensive amid the ongoing US-China trade war rhetoric.

USDCNH printed 7-month highs of Cnh6.6405, before paring light gains.

- The DXY tried but failed to make a convincing break of last week's high at

95.54. Gold slipped further to fresh YTD lows of 1248.47. EMFX also struggling

with IDR, KRW & INR the biggest fallers. US GDP, & Jobless Claims to follow.