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New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses
Asia-Pacific markets may close lower on Friday after risk aversion heated up Thursday on Wall Street. The Dow Jones Industrial Average (DJIA) lost 0.18% at the close. Treasury yields gained for a second day as better-than-expected US retail sales figures crossed the wires. This may have further aided the view that this week’s CPI reaction was overdone. The US Dollar caught a bid on haven flows. The risk-sensitive New Zealand Dollar fell versus the Greenback. The growing Covid-19 Delta strain threat, along with concerns over high valuations in equity markets, appears to be driving the bout of risk aversion. Economic ... (full story)