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Oceanic Currencies On A Roll To Start The Week
The NZD was the stellar performer right from the get go as the technical bullish momentum converged with the positive fundamental developments. The signal of more fiscal stimulus in NZ tames down the prospects of the RBNZ cutting rates further for domestic reasons. The Aussie also piggybacked the NZD, although at a slower pacing, driven mainly by the upbeat data out of China as PMIs return into expansionary territory. After the RBA, the Aussie was given a new impulse northbound as the RBA signaled the bar to cut rates is quite high now. The Euro and the Swiss Franc, after a typical early move lower in Europe for the ... (full story)