In FX, AUDUSD rose to 0.880 following the release of China’s GDP but has since given up its gains to trade back to Friday’s close around 0.878. Reports of a 6.3 magnitude earthquake near Wellington drove NZD lower initially, before it came back up to 0.825 with little follow through. AUDNZD has inched higher to 1.065 on the back of profit taking flow ahead of the NZ inflation release later today. Meanwhile, EUR was largely stable at 1.353.
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