NZD: NZD/USD - Walks Back Breman Reprieve, Trades Heavy Toward 0.5700

The NZD/USD had a range today of 0.5701-0.5732 in the Asia-Pac session; it is currently trading around 0.5702, -0.45%. The pair has completely walked back the reprieve it got from Breman yesterday. It too has been unable to build on any strength as currencies remain subdued, even in the face of what looks a healthy risk backdrop. I suspect we might need the US Dollar to actually break higher for this pair to sustain a challenge below the 0.5700 area. Something that the price action suggests is a higher probability than I would have thought previously. I will be watching the price action of the US dollar closely. Can its divergence from Risk persist? Look for initial resistance on the day between 0.5740-0.5770 which held overnight, a sustained push below 0.5700 could open the way for a test of the year's lows toward 0.5500-0.5600 again.. * "Donald Trump said US officials had a "very good" three-hour meeting with Iranian envoys, reviving fragile hopes for a deal hours after he threatened to annihilate the country in his UN speech." - BBG * "WITKOFF: ENGAGED IN LENGTHY TALKS WITH THE IRANIAN DELEGATION. TALKS WITH IRANIAN DELEGATION THROUGH MEDIATORS." - BBG * Options: Closest signifi