The NZD/USD is higher as NZD demand continued overnight, says ANZ in its morning brief. "Markets are...continuing to take an optimistic view of global data releases, increasing the likelihood of seasonal NZD out-performance." The pair is at 0.8246 vs 0.8226 late Tuesday. Strength in the New York ISM showed that weakness in the nationwide ISM --released Monday--was likely unrelated to Superstorm Sandy and that the U.S. economy is likely on hold pending a political solution to fiscal problems and will improve once a solution is found, ANZ says. "If this scenario is correct then NZD would be expected to appreciate." The pair is like to trade in a 0.8215-0.8285 range Wednesday.
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