NZD/USD is faded as the US dollar finds solace on hawkish Fed member statements By ross_burland NZDUSD Fed CentralBanks Currencies
space. The commodity complex was bid on the inflation hedge play which initially supported the kiwi after the knee-jerk bid in the greenback before it was met with heavy supply again in midday trade.
''Volatility remains the order of the day. Higher US yields are battling things like higher commodity prices for attention; while rates have had less of an influence on FX of late, the knee-jerk reaction to higher US bond yields tends to be NZD-negative,'' analysts at ANZ Bank explained. The ''NZD/USD bulls are taking charge in a significant correction,'' that was moving ''in on old lows near 0.
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