The NZD/USD pushed higher in the early hours of thismorning, in the backdrop of a weak USD. It sits at 0.8620this morning.Yesterday’s ANZ business survey showed an expectedpullback in its headline readings. But these were stillconsistent with up to 6.0% GDP growth in the year ahead.Pricing intentions in the survey were unchanged at +30.2,remaining on the high-side of average. They certainlyprovided no reason for complacency from the RBNZregarding the inflation outlook. The NZD took the releasein its stride, now well used to strong domestic datareadings. It was not until early this morning, when broaderUSD weakness unfolded, that the NZD begana steady ascent. The NZD/USD now trades at 0.8620, notfar from resistance at the 0.8640 level.
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