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Forex Flash: AUD/NZD hit - Societe Generale

FXstreet.com (Barcelona) - Alvin Tan, FX Strategist at Societe Generale notes that AUD/NZD has been hit as the RBNZ kept on hold at 2.5% as expected.

However, he adds that the the accompanying statement leaned slightly to the hawkish side as it noted that the NZ economy had picked up and it re-stated its concerns about domestic house price inflation. He sees that the RBNZ also repeated its view that the kiwi dollar was overvalued, but the market's not going to be bothered by such minor details when there's positive carry to be had.He writes, “So long as the RBNZ does not directly intervene in the market. On the other hand, Australian CPI data came out lower than expected. AUD/NZD consequently traded to its lowest level in almost two years.”

Forex: GBP/USD drawn to highs on NY session

Following the disappointing UK CBI realized trades, the GBP/USD fell from 1.5288 high but gains were supported at 1.5255 after the US durable goods orders report. Then, the bouncing movement during the NY opening allowed a move to 1.5283, which is now under a profit taking process at 1.5270 (+0.20% on the day).
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Forex Flash: EUR/USD maintains neutral outlook – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.
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