Westpac Research notes:
AUD/NZD 1 day: Higher today, on residual momentum from yesterday's RBNZ cut. Minor obstacle at 1.1090.
AUD/NZD 1-3 month: The RBA will probably remain on hold (albeit with easing risk), while the RBNZ is currently in easing mode. Expected RBA vs RBNZ direction thus favours AUD/NZD over the medium term, such that 1.1300 is feasible.


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