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The kiwi is driven by reopening and rebounding data as the NZD/USD pair saw a blistering performance yesterday fuelled by less-worse-than-expected US jobs data. Economists at ANZ Bank are looking for a break of 0.6440 to lead toward the 0.6500 level.

Key quotes

“It’s all about the ‘rebound’ side of the impulse now that economies are reopening, and that’s a situation that could easily extend into Q3.”

“In short, there is a lot of good news to get through before the longer-term realities start to bite; NZD will remain elevated in that environment.”

“Technically, NZD is very strong. A break of 0.6440 brings 0.6500 into view, then it’s blue sky till 0.6765 (the Jan 2020 high).”