NZD/USD to remain bid on dips after closing +0.3% Tue on hot inflation data

New Zealand Q4 CPI rises 1.4% q/q, 7.2% y/y versus 1.3% & 7.1% expected

Will cement expectations of 50bps Feb hike to 4.75%; peak expected near 5.3%

Waning global recession fears, optimism of a less aggressive Fed support

Tue range 0.6464-0.6525; caution ahead of Fed rate decision next week caps

Resistance 0.6530 Jan 18 high, break opens 0.6575; support 0.6465-70, 0.6440

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