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      NZD/USD correction overdue – Westpac

      FXStreet (Edinburgh) - Analysts at Westpac Global Strategy Group see the likelihood of a corrective bounce towards the 0.8520/30 region.

      Key Quotes

      “The decline in NZD/USD from mid-July has been only briefly punctuated by shallow corrective bounces”.

      “So we were well overdue a corrective bounce. This could extend towards the 0.8520/30 level but beyond that shorts become attractive again given little movement expected in NZ interest rates while the RBNZ is on hold this year and still falling dairy prices”.
      year and still falling dairy prices”.

      USD/JPY initial cap around the 103.00 area – Commerzbank

      Axel Rudolph, Senior Technical Analyst at Commerzbank expects the upside in the pair to find resistance in the 102.93/103.15 band...
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      US CPI inflation to take a pause after recent gains - ING

      Rob Carnell from ING expects soft gasoline and energy prices to curb the rise in inflation in July.
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