After relatively range-bound trading on Friday, the NZD/USD gained momentum on Friday night as the USD weakened. The NZD/USD closed the week above 0.8330. It was not until Friday night that the NZD gained some direction, as there was no local data to drive the currency during the day. Disappointing USD data releases early on Saturday morning (see Majors) saw the USD extend some of its ‘Yellen-inspired’ weakness. The NZD was a beneficiary, pushing up to close the week above 0.8330.
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