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NZD/USD gains on positive business sentiment – BBH

NZD/USD rebounds toward 0.5800 after last week’s dip, supported by a resilient ANZ business outlook, though the RBNZ’s easing bias keeps upside limited, BBH FX analysts report.

RBNZ esing caps NZD strength

"NZD/USD is up near 0.5800 after testing a low around 0.5750 last Friday. New Zealand’s September ANZ business outlook survey was encouraging, though the RBNZ remains on course for further easing."

"Business confidence was largely unchanged in September with a net 49.6% expecting better business conditions, expected own activity rose 4 points to a five-month high at 43.4% and reported past activity (the best GDP indicator) increased 4 points to 5%. The next RBNZ meeting is on October 8 and markets price-in 30% odds of a jumbo 50bps cut to 2.50% which is a headwind for NZD."


USD/JPY: Likely to trade in a range of 147.80/149.65 – UOB Group

Upward pressure has faded; US Dollar (USD) is likely to trade in a range of 147.80/149.65, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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USD/CNH to test 7.1165 before the risk of a recovery increases – UOB Group

There is scope for US Dollar (USD) to test 7.1165 before the risk of a recovery increases. In the longer run, for the time being, USD is likely to trade in a range between 7.1000 and 7.1480, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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