•USD bounces in Asia. •Little impressed by China CPI, PPI data. •RBNZ keeps rates on-hold, as widely expected. •US tax reforms in focus. Having witnessed a steep drop from post-RBNZ decision-led highs, the NZD/USD pair entered a phase of consolidation over the last hour, with the bulls finding little impetus from the Chinese mixed inflation data for the month of October. The spot came under fresh selling pressure and breached the midpoint of 0.69 handle, as the NZD was sold-off into RBNZ Assistant Governor McDermott’s currency jawboning. RBNZ's McDermott noted that it would be good if the NZD fell more. Meanwhile, ... (full story)