NZD/USD consolidates in a range above 0.6200 mark, eyes US CPI for fresh impetus – by hareshmenghani NZDUSD RiskAppetite Fed Inflation Currencies
ession. Spot prices, however, manage to hold above the 0.6200 mark and remain well below a nearly two-week high, around the 0.6265 region, touched the previous day.
A goodish intraday rally in the US Treasury bond yields helps revive the US Dollar demand, which, in turn, is seen as a key factor acting as a headwind for the NZD/USD pair. That said, a generally positive tone around the equity markets, bolstered by easing fears of a broader systemic crisis, lends some support to the risk-sensitive Kiwi and limits the downside for the major.
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