Analysts at ANZ explained that they say a week is a long time in politics, "but it is clearly a long time in FX markets too", they said, with the NZD back under pressure again as local political polls whipsaw.
"That is hardly going to die away as a theme into next week as the election remains too close to call. And with the USD being buoyed by hints of a stabilization in inflation (and what that potentially means for future Fed rate hikes), further tests lower look possible.
"The 200 day MA around 0.7140 could be an initial target."
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