New Zealand dollar struggles to get off the floor ...Middle East

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New Zealand dollar struggles to get off the floor
The US dollar is retracing on most fronts today but the New Zealand dollar is an exception. NZD/USD remains within striking distance of a four-month low and below recent support.Two days of heavy selling on Thursday and Friday broke through the 2024 low and it's found little buying interest down here.That's a bad sign going forward for the only G10 currency that can compete with the US dollar on rate differentials. The RBNZ cash rate is at 5.50% and the market is pricing in 73 bps in cuts this year. The housing market in New Zealand has remained resilient and it hasn't gotten a boost from improving global risk appetite and commodity prices.As for the chart, it's not a pretty one. The lack of

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