The NZD/USD sits a little lower, around 0.8280 this morning. The NZD/USD, unusually, showed a response to yesterday’s NZ PPI data. The upward momentum in the data was quite surprising, as Q3 PPI rose 2.4%, to take the annual rise to 4.1% (see Fixed Interest). However, the push higher in the NZD/USD proved short-lived. After a failed attempt to push through 0.8400, it drifted lower overnight as the USD strengthened.
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BNZ