The NZD/USD has traded a steady path over the past 24-hours to sit at a similar level this morning, just above 0.8360. Yesterday’s speech from the RBNZ’s Deputy Governor outlined concerns regarding the NZ housing market. It highlighted supply constraints and reiterated the reasons for implementing the LVR restriction on banks, but did not provide anything to surprise the market. The NZD/USD has traded a fairly steady path between 0.8360 and 0.8400 over the past 24-hours, sitting toward the lower end of this range at present.
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BNZ