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Flash: NZD/USD at the crossroads – BNZ

FXstreet.com (New York) – The NZD was the weakest performing G10 currency last week – after opening the week flirting with the upper end of the 0.7690-0.8150 range, the NZD/USD finished the week some three cents lower around 0.7800, notes Mike Jones, an analyst at BNZ.

Key quotes

“A sharp and unexpected depreciation in emerging market currencies was the most eye-catching development in markets last week. The NZD’s role as a liquid regional proxy for Asia saw the NZD/USD dragged lower on the coat tails of the INR, IDR, THB, and PHP.”

“For this week, direction for the NZD will continue to come …read more