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New Zealand's dollar fell after the Reserve Bank of New Zealand has recently announced its intention to present a new assessment of the economic situation on Thursday.
Analysts at Barclays recommended a sell on NZD/USD this week with the target of $ 0.7005. "On Thursday, the RBNZ will assess the current economic situation, and, according to our forecast, in the eve of this event, the kiwi will remain under pressure". The new assessment of the economic situation may create conditions for lowering rates at the next meeting of the RBNZ, which takes place on August 11th.
Commonwealth Bank of Australia said that NZD/USD, may be strong despite the prospect of further rate cut and expect to finds support in $ 0.6900 area.
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