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NZD/USD bears on top for the open into the FOMC
NZD/USD ended the week flat after moving between a high of 0.6992 and a low of 0.6940 as the price consolidated at daily resistance. ''Things may be less calm this week though, with the US Federal Reserve meeting the highlight in the US, setting the scene for the remainder of the Northern Hemisphere summer, with the annual Jackson Hole symposium another month away,'' analysts at ANZ Bank said on Monday. Indeed, it is a big week for the US dollar that has so far reined the Fx leader board for the past couple of months just as volatility starts to pick up in the FX space. If we have seen a cycle low of the year in this ... (full story)