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Westpac note that "some AUD/cross.......>

AUSSIE-KIWI: Westpac note that "some AUD/cross underperformance seems linked to
Australia's political turmoil, while AUD seems to be preferred over NZD as a
proxy for US-China trade tensions. As such, there remains near term risk of at
least a brief slide towards NZ$1.07 (June lows) for AUD/NZD. But if the relative
commodity and yield story continues in Q4, the cross should recover to NZ$1.11
by year-end."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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