Global currency markets appear to be entering a consolidation phase after some decent moves, ANZ says. "The U.S. dollar continues to hold sway over the direction of the NZD/USD, but on a trade-weighted index basis, the New Zealand dollar should continue to hold its own," it says. The NZD/USD traded in a range of 0.7032-0.7083 overnight Tuesday, and was most recently at 0.7052. Locally, traders weighed a speech by Reserve Bank of New Zealand Deputy Gov. Geoff Bascand, who noted that changing household behavior to wealth gains has been a factor behind lower-than-expected inflation
