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NZD short-covering ahead of RBNZ tomorrow

By   || March 10, 2010 at 02:16 GMT
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The market is unanimous in it’s expectation that the RBNZ will make no change to rates or policy tomorrow, but traders look to be still sitting short NZD both against the USD and the AUD. The NZD/USD has jumped up 30 pips in the last hour or so as the NZ trading day comes to a close. Expect more short covering on a break above .7080 in the NZD/USD.

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