We had NZ data earlier, pointing to continued RBNZ rate cuts:New Zealand Q3 CPI 0.6% q/q (expected 0.7%) & 2.2% y/y (expected 2.2%)RBNZ's Silk says confident inflation will converge to 2% target midpoint in medium termNZD/USD has continued to slide after that data. AUD dropping also.Am I going to get sent to the naughty corner if I suggest the two are being pummelled because it looks likely that the Federal Reserve is NOT going to be cutting aggressively ahead ....? Other factors also, but I reckon that might be a biggie. This article was written by Eamonn Sheridan at www.forexlive.com.
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