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NZD/USD heavy on risk-off, USD bounce, eyes on China data dump
•USD rebounds in Asia. •NZ politics will remain in focus. •China data dump on tap. Having met fresh sellers in early Asia, the NZD/USD pair entered a phase of consolidation, meandering near daily lows of 0.6916, in the wake of resurgent USD demand and risk-off market profile. NZD/USD looks to test 0.6900? The US dollar attempted a bounce across its main competitors, following last week’s sell-off induced by the US tax reforms uncertainty, which triggered a reversal in the Kiwi from near 0.6940 levels. The renewed uptick seen in the greenback was mainly driven by broad GBP selling, as the markets reacted to ... (full story)