The NZD maintained its station in and around the 0.8500figure over the past 24 hours, keeping a tight range. Itbegins today just below 0.8500. There was no local data yesterday to provide direction, andthe NZD failed to take cues from the global equity marketsell-off. Looking past the Chinese data due today, investorsare simply seeking a green light from the US data tonight tokeep the USD bid (and the NZD under the pump).
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