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NZD/USD Up on Sentiment Recovery, OCR Bets
Asia-Pacific traders will look to build on Wall Street’s upbeat session where stocks closed higher, extending a rebound into its second day after a broad risk-off move sank markets on Monday. The benchmark S&P 500 closed 0.82% higher on Wednesday, moving the index within 1% of last week’s all-time high. The foreign exchange market is reflecting the new round of buying, with the risk-sensitive New Zealand Dollar gaining against most of its major currency peers. The Kiwi Dollar’s fundamental backdrop improved after the Reserve Bank of New Zealand (RBNZ) moved to terminate its Large Scale Asset Purchases ... (full story)