The NZD/USD has climbed its way back up to 0.8400 thismorning, from yesterday’s lows below 0.8360. The NZD appeared to largely ignore yesterday morning’sstrong NZ migration data (see Fixed Interest). But it dippedafter the release of the ANZ Consumer Confidence indexthat pulled back to 125.5 in August, from a hearty 132.7previously. It shows the market’s current propensity tofocus on perceived loss of momentum in the NZ economy.
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