The NZD/USD continues to cling on by its fingernails, sitting at 0.7870 this morning. Once again, there was little on the domestic agenda to influence the NZD/USD yesterday, so it took its cue from general global risk sentiment. This soured as the Bank of Japan failed to announce additional stimulus measures at its meeting yesterday. The NZD/USD briefly broke through the crucial support level at 0.7800 overnight. However, it managed to hang on, and has returned to trade around 0.7870 this morning.
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