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While NZDUSD managed to stay above 0.6550......>

KIWI
KIWI: While NZDUSD managed to stay above 0.6550 yesterday it has shown no real
attempt to rally, with the downtrend firmly intact. 
- The downtrend in NZDJPY also appears to be resuming following yesterday's
losses, while NZDEUR's failure to close above 0.5800 keeps the focus squarely on
kiwi underperformance vs the majors. 
- 10-year yield spreads continue to head in the US's favour, with the spread
currently at -28.6bps testing all-time lows, keeping fundamental downside
pressure on NZD.

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