The NZD/USD sat a fraction lower at week end, at 0.8690,having traded a fairly tight range on Friday. The lack of NZD volatility over the latter part of last weekwas striking. This was despite significant global geopoliticaldevelopments and a plunge and subsequent rebound inglobal risk appetite. The NZD/USD traded afairly unassuming path between 0.8650 and 0.8690 onFriday, closing at the upper end of this range.
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