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The kiwi is back up off the floor as risk appetite improves and the USD weakens, economists at ANZ Bank apprise.

Key quotes

“Near-term price action looks strong and you can’t shy away from that, and although the market has clung to the idea that negative rates are off the table for now, they just make other types of easing more likely.”

“The RBNZ still has a lot of work to do, even if that’s in a support role for fiscal policy.”

“Support 0.5850 Resistance 0.6170”