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Daily Alert: NZD/USD shakes it off…for now

  • Markets have spent the night on the back-foot as incoming economic data has continued to print on the softer side of expectations
  • On closer inspection this reflects US-specific, rather than global, recession fears taking some of the edge off the USD
  • Across the pond, German bund yields set the tone for the night, slumping across the curve following a surprise lift in German unemployment to 5.3% in June (5.0% expected)

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