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Kiwi has stabilised while the USD remains under pressure as bond yields fall and equities sell-off. Economists at ANZ Research analyzes the NZD/USD pair, which is trading at 0.6308.

Key quotes

“NZD/USD – along with AUD/USD – held steady overnight as the G4 currencies repriced.”

“Support at 0.63 seems rock-solid, but New Zealand has always been vulnerable to global shocks and we see that as the predominant risk direction on COVID-19 news.”