NZDJPY moves indecisively

FX:NZDJPY   New Zealand Dollar / Japanese Yen
The currency pair is moving indecisively, hovering around multi-year lows. Risk-sensitive kiwi was supported when China's central bank announced reforming its lending rate. However, the rate was lowered just by 6 basis points, avoiding to shock the market. Haven yen, on the other side, is firm as demand is still high for haven currencies. New Zealand PMI data showed both the service and manufacturing sectors lost momentum at the start of the third quarter. The already dovish RBNZ may cut interest rates further weighing on the currency. Retail sales due later in the week will be closely followed with expectations to slow to 0.2%. 67.500 in sight
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