{
  "schemaVersion": 1,
  "modelVersion": "1.0.0",
  "experimental": true,
  "generatedAt": "2026-10-20T02:54:58.146Z",
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  "horizonDays": 90,
  "banks": {
    "CHF": {
      "currency": "CHF",
      "state": "tightening",
      "label": "Tightening lean",
      "score": 3,
      "reasons": [],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation accelerating",
          "signal": 1,
          "latest": {
            "date": "2026-09-01",
            "value": 0.99006
          },
          "previous": {
            "date": "2026-06-01",
            "value": 0.4512
          },
          "source": "https://data-explorer.oecd.org/vis?df[ag]=OECD.SDD.TPS&df[id]=DSD_PRICES_COICOP2018@DF_PRICES_C2018_ALL",
          "retrievedAt": "2026-10-20T02:53:31.706633+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 5.03241
          },
          "previous": {
            "date": "2025-10-01",
            "value": 5.07263
          },
          "source": "https://fred.stlouisfed.org/series/LRHUTTTTCHQ156S",
          "retrievedAt": "2026-10-20T02:53:33.910509+00:00"
        },
        {
          "metric": "Growth",
          "text": "Two quarters of firm growth",
          "signal": 1,
          "latest": {
            "date": "2026-04-01",
            "value": 1.88475
          },
          "previous": {
            "date": "2026-01-01",
            "value": 0.63205
          },
          "source": "https://fred.stlouisfed.org/series/NAEXKP01CHQ657S",
          "retrievedAt": "2026-10-20T02:53:34.338163+00:00"
        }
      ],
      "guidance": {
        "currency": "CHF",
        "bank": "Swiss National Bank",
        "short": "SNB",
        "publishedDate": "2026-09-24",
        "stance": "Rate hold · Conditional inflation outlook",
        "headline": "SNB held at zero as its conditional inflation forecast stayed in target",
        "guidance": "The SNB maintained a 0% policy rate. Its published inflation forecast assumed a constant policy rate and was within its price-stability range; that assumption is not a promise to hold future rates.",
        "watch": "Swiss inflation, franc exchange-rate developments and global uncertainty",
        "source": "https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20260924",
        "evidence": "Official monetary policy assessment",
        "notMarketPricing": true,
        "lean": "neutral",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-24"
      },
      "evidenceStrength": "Moderate",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    },
    "AUD": {
      "currency": "AUD",
      "state": "mixed",
      "label": "Mixed evidence",
      "score": 1,
      "reasons": [
        "Economic and policy evidence does not give a consistent direction"
      ],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 3.96315
          },
          "previous": {
            "date": "2025-10-01",
            "value": 3.67194
          },
          "source": "https://data-explorer.oecd.org/vis?df[ag]=OECD.SDD.TPS&df[id]=DSD_PRICES@DF_PRICES_ALL",
          "retrievedAt": "2026-10-20T02:53:31.700261+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment rising",
          "signal": -1,
          "latest": {
            "date": "2026-08-01",
            "value": 4.6463
          },
          "previous": {
            "date": "2026-05-01",
            "value": 4.39241
          },
          "source": "https://fred.stlouisfed.org/series/LRHUTTTTAUM156S",
          "retrievedAt": "2026-10-20T02:53:33.925678+00:00"
        },
        {
          "metric": "Growth",
          "text": "Growth gives no strong directional signal",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 0.4195
          },
          "previous": {
            "date": "2026-01-01",
            "value": 0.28623
          },
          "source": "https://fred.stlouisfed.org/series/NAEXKP01AUQ657S",
          "retrievedAt": "2026-10-20T02:53:34.022063+00:00"
        }
      ],
      "guidance": {
        "currency": "AUD",
        "bank": "Reserve Bank of Australia",
        "short": "RBA",
        "publishedDate": "2026-09-29",
        "stance": "Further tightening possible if needed",
        "headline": "RBA raised its cash target and left room for another increase",
        "guidance": "After raising its cash-rate target to 4.60%, the RBA said inflation was still too high and that it could increase rates further if necessary. Its next decision remains data-dependent.",
        "watch": "Australian inflation, wages, employment and evidence of slowing demand",
        "source": "https://www.rba.gov.au/media-releases/2026/mr-26-27.html",
        "evidence": "Official Monetary Policy Board decision",
        "notMarketPricing": true,
        "lean": "tightening",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-29"
      },
      "evidenceStrength": "Mixed",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    },
    "EUR": {
      "currency": "EUR",
      "state": "mixed",
      "label": "Mixed evidence",
      "score": 2,
      "reasons": [
        "Economic and policy evidence does not give a consistent direction"
      ],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation accelerating",
          "signal": 1,
          "latest": {
            "date": "2026-09-01",
            "value": 3.8
          },
          "previous": {
            "date": "2026-06-01",
            "value": 2.8
          },
          "source": "https://ec.europa.eu/eurostat/databrowser/view/prc_hicp_minr/default/table",
          "retrievedAt": "2026-10-20T02:53:32.907400+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-08-01",
            "value": 6.4
          },
          "previous": {
            "date": "2026-05-01",
            "value": 6.4
          },
          "source": "https://ec.europa.eu/eurostat/databrowser/view/une_rt_m/default/table",
          "retrievedAt": "2026-10-20T02:53:32.589887+00:00"
        },
        {
          "metric": "Growth",
          "text": "Growth gives no strong directional signal",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 0.6
          },
          "previous": {
            "date": "2026-01-01",
            "value": 0
          },
          "source": "https://ec.europa.eu/eurostat/databrowser/view/namq_10_gdp/default/table",
          "retrievedAt": "2026-10-20T02:53:33.224509+00:00"
        }
      ],
      "guidance": {
        "currency": "EUR",
        "bank": "European Central Bank",
        "short": "ECB",
        "publishedDate": "2026-09-10",
        "stance": "Data-dependent · Meeting by meeting",
        "headline": "ECB commits to inflation target, not a predetermined rate path",
        "guidance": "The Governing Council assesses inflation and economic data at each meeting; its communication does not commit to a specific future policy-rate trajectory.",
        "watch": "Euro-area inflation, wage growth and the ECB's updated projections",
        "source": "https://www.ecb.europa.eu/press/pr/date/2026/html/ecb.mp260910~314e508016.en.html",
        "evidence": "Official monetary policy decisions",
        "notMarketPricing": true,
        "lean": "neutral",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-10"
      },
      "evidenceStrength": "Mixed",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    },
    "CAD": {
      "currency": "CAD",
      "state": "hold",
      "label": "Hold lean",
      "score": 0,
      "reasons": [],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-08-01",
            "value": 3.03398
          },
          "previous": {
            "date": "2026-05-01",
            "value": 3.22581
          },
          "source": "https://data-explorer.oecd.org/vis?df[ag]=OECD.SDD.TPS&df[id]=DSD_PRICES@DF_PRICES_ALL",
          "retrievedAt": "2026-10-20T02:53:31.712384+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-08-01",
            "value": 6.4
          },
          "previous": {
            "date": "2026-05-01",
            "value": 6.6
          },
          "source": "https://fred.stlouisfed.org/series/LRHUTTTTCAM156S",
          "retrievedAt": "2026-10-20T02:53:34.981507+00:00"
        },
        {
          "metric": "Growth",
          "text": "Growth gives no strong directional signal",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 0.81974
          },
          "previous": {
            "date": "2026-01-01",
            "value": 0.08119
          },
          "source": "https://fred.stlouisfed.org/series/NAEXKP01CAQ657S",
          "retrievedAt": "2026-10-20T02:53:34.779762+00:00"
        }
      ],
      "guidance": {
        "currency": "CAD",
        "bank": "Bank of Canada",
        "short": "BoC",
        "publishedDate": "2026-09-02",
        "stance": "Rate hold · Watching inflation upside",
        "headline": "BoC held at 2.25%, with more uncertainty around inflation",
        "guidance": "The Governing Council kept its overnight target unchanged, said upside inflation risks had increased, and remained prepared to adjust policy as needed. It did not announce a precommitted hike.",
        "watch": "Canadian inflation excluding energy, recovery durability and trade-policy effects",
        "source": "https://www.bankofcanada.ca/2026/09/fad-press-release-2026-09-02/",
        "evidence": "Official rate decision press release",
        "notMarketPricing": true,
        "lean": "neutral",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-02"
      },
      "evidenceStrength": "Moderate",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    },
    "JPY": {
      "currency": "JPY",
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reasons": [
        "A newer policy decision supersedes this guidance review"
      ],
      "drivers": [],
      "guidance": {
        "currency": "JPY",
        "bank": "Bank of Japan",
        "short": "BoJ",
        "publishedDate": "2026-07-31",
        "stance": "Conditional further tightening",
        "headline": "BoJ July outlook described scope to continue raising rates",
        "guidance": "The BoJ's July outlook said it would continue adjusting accommodation by raising rates in response to economic activity, prices and financial conditions. This is conditional guidance, not a dated hike promise.",
        "watch": "Japan's wage and inflation trend, financial conditions and the October Outlook Report",
        "source": "https://www.boj.or.jp/en/mopo/outlook/highlight/ten202607.htm",
        "evidence": "Official July Outlook Report summary",
        "notMarketPricing": true,
        "lean": "tightening",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-18"
      }
    },
    "GBP": {
      "currency": "GBP",
      "state": "mixed",
      "label": "Mixed evidence",
      "score": 1,
      "reasons": [
        "Economic and policy evidence does not give a consistent direction"
      ],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-08-01",
            "value": 3.3
          },
          "previous": {
            "date": "2026-05-01",
            "value": 3
          },
          "source": "https://data-explorer.oecd.org/vis?df[ag]=OECD.SDD.TPS&df[id]=DSD_PRICES@DF_PRICES_ALL",
          "retrievedAt": "2026-10-20T02:53:31.715433+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-06-01",
            "value": 4.9,
            "periodEnd": "2026-07-31"
          },
          "previous": {
            "date": "2026-03-01",
            "value": 4.9,
            "periodEnd": "2026-04-30"
          },
          "source": "https://fred.stlouisfed.org/series/LRHUTTTTGBM156S",
          "retrievedAt": "2026-10-20T02:53:34.686234+00:00"
        },
        {
          "metric": "Growth",
          "text": "Two quarters of firm growth",
          "signal": 1,
          "latest": {
            "date": "2026-04-01",
            "value": 0.53261
          },
          "previous": {
            "date": "2026-01-01",
            "value": 0.64121
          },
          "source": "https://fred.stlouisfed.org/series/NAEXKP01GBQ657S",
          "retrievedAt": "2026-10-20T02:53:35.254381+00:00"
        }
      ],
      "guidance": {
        "currency": "GBP",
        "bank": "Bank of England",
        "short": "BoE",
        "publishedDate": "2026-09-17",
        "stance": "Rate hold · Upside inflation risks",
        "headline": "Six MPC members held; three preferred a 25 bp hike",
        "guidance": "The September MPC maintained Bank Rate at 3.75% by 6–3. It highlighted energy-driven upside inflation risks and said it stood ready to act if necessary.",
        "watch": "UK CPI, wage-setting effects from energy prices, jobs and MPC votes",
        "source": "https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2026/september-2026",
        "evidence": "MPC summary and minutes",
        "notMarketPricing": true,
        "lean": "neutral",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-17"
      },
      "evidenceStrength": "Mixed",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    },
    "NZD": {
      "currency": "NZD",
      "state": "tightening",
      "label": "Tightening lean",
      "score": 4,
      "reasons": [],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation accelerating",
          "signal": 1,
          "latest": {
            "date": "2026-04-01",
            "value": 4.05819
          },
          "previous": {
            "date": "2025-10-01",
            "value": 3.108
          },
          "source": "https://data-explorer.oecd.org/vis?df[ag]=OECD.SDD.TPS&df[id]=DSD_PRICES@DF_PRICES_ALL",
          "retrievedAt": "2026-10-20T02:53:31.720678+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 5.6
          },
          "previous": {
            "date": "2025-10-01",
            "value": 5.4
          },
          "source": "https://fred.stlouisfed.org/series/LRHUTTTTNZQ156S",
          "retrievedAt": "2026-10-20T02:53:35.728344+00:00"
        },
        {
          "metric": "Growth",
          "text": "Growth gives no strong directional signal",
          "signal": 0,
          "latest": {
            "date": "2026-04-01",
            "value": 0.3601
          },
          "previous": {
            "date": "2026-01-01",
            "value": 1.05475
          },
          "source": "https://fred.stlouisfed.org/series/NAEXKP01NZQ657S",
          "retrievedAt": "2026-10-20T02:53:35.760823+00:00"
        }
      ],
      "guidance": {
        "currency": "NZD",
        "bank": "Reserve Bank of New Zealand",
        "short": "RBNZ",
        "publishedDate": "2026-09-02",
        "stance": "Conditional further tightening projected",
        "headline": "RBNZ projections allowed for further OCR increases",
        "guidance": "The September Monetary Policy Statement projected further OCR increases conditional on its central economic outlook, to bring inflation back toward 2%. This is the bank's conditional projection, not a market-implied quote.",
        "watch": "New Zealand CPI, demand and labour-market data; new OCR path in the next policy statement",
        "source": "https://www.rbnz.govt.nz/monetary-policy/monetary-policy-statement/monetary-policy-statement-filtered-listing-page/2026/sep-0209/monetary-policy-statement-september-2026/web-version",
        "evidence": "Official Monetary Policy Statement",
        "notMarketPricing": true,
        "lean": "tightening",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-02"
      },
      "evidenceStrength": "Moderate",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    },
    "USD": {
      "currency": "USD",
      "state": "mixed",
      "label": "Mixed evidence",
      "score": 1,
      "reasons": [
        "Economic and policy evidence does not give a consistent direction"
      ],
      "drivers": [
        {
          "metric": "Inflation",
          "text": "Headline inflation broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-09-01",
            "value": 3.73768
          },
          "previous": {
            "date": "2026-06-01",
            "value": 3.53143
          },
          "source": "https://fred.stlouisfed.org/series/CPIAUCNS",
          "retrievedAt": "2026-10-20T02:53:37.622264+00:00"
        },
        {
          "metric": "Employment",
          "text": "Unemployment broadly steady",
          "signal": 0,
          "latest": {
            "date": "2026-09-01",
            "value": 4.2
          },
          "previous": {
            "date": "2026-06-01",
            "value": 4.2
          },
          "source": "https://fred.stlouisfed.org/series/UNRATE",
          "retrievedAt": "2026-10-20T02:53:36.253684+00:00"
        },
        {
          "metric": "Growth",
          "text": "Two quarters of firm growth",
          "signal": 1,
          "latest": {
            "date": "2026-04-01",
            "value": 0.55049
          },
          "previous": {
            "date": "2026-01-01",
            "value": 0.61721
          },
          "source": "https://fred.stlouisfed.org/series/NAEXKP01USQ657S",
          "retrievedAt": "2026-10-20T02:53:36.517034+00:00"
        }
      ],
      "guidance": {
        "currency": "USD",
        "bank": "Federal Reserve",
        "short": "Fed",
        "publishedDate": "2026-09-16",
        "stance": "Recent rate increase · No fixed future path",
        "headline": "Inflation remains elevated after September rate increase",
        "guidance": "The FOMC increased its target range to 3.75–4.00% and emphasized its 2% inflation objective. The statement did not promise a specific move at the next meeting.",
        "watch": "US CPI and employment trends; the next FOMC statement and economic projections",
        "source": "https://www.federalreserve.gov/newsevents/pressreleases/monetary20260916a.htm",
        "evidence": "Official FOMC statement",
        "notMarketPricing": true,
        "lean": "neutral",
        "reviewedAt": "2026-10-16",
        "latestDecisionDate": "2026-09-16"
      },
      "evidenceStrength": "Mixed",
      "limitations": [
        "Headline CPI only; no core inflation, wages, forecasts or market pricing in v1"
      ]
    }
  },
  "pairs": {
    "AUDCHF": {
      "base": "AUD",
      "quote": "CHF",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "USDCHF": {
      "base": "USD",
      "quote": "CHF",
      "higher": "USD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "GBPCHF": {
      "base": "GBP",
      "quote": "CHF",
      "higher": "GBP",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "AUDJPY": {
      "base": "AUD",
      "quote": "JPY",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "NZDCHF": {
      "base": "NZD",
      "quote": "CHF",
      "higher": "NZD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "Both banks lean in the same direction; the relative size of their moves is unknown."
    },
    "USDJPY": {
      "base": "USD",
      "quote": "JPY",
      "higher": "USD",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "EURCHF": {
      "base": "EUR",
      "quote": "CHF",
      "higher": "EUR",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "GBPJPY": {
      "base": "GBP",
      "quote": "JPY",
      "higher": "GBP",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "AUDCAD": {
      "base": "AUD",
      "quote": "CAD",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "CADCHF": {
      "base": "CAD",
      "quote": "CHF",
      "higher": "CAD",
      "horizonDays": 90,
      "state": "narrowing",
      "label": "Narrowing lean",
      "reason": "CAD currently has the higher benchmark. The two bank leans suggest less separation, conditional on the evidence persisting."
    },
    "EURAUD": {
      "base": "EUR",
      "quote": "AUD",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "AUDNZD": {
      "base": "AUD",
      "quote": "NZD",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "USDCAD": {
      "base": "USD",
      "quote": "CAD",
      "higher": "USD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "GBPCAD": {
      "base": "GBP",
      "quote": "CAD",
      "higher": "GBP",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "NZDJPY": {
      "base": "NZD",
      "quote": "JPY",
      "higher": "NZD",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "EURUSD": {
      "base": "EUR",
      "quote": "USD",
      "higher": "USD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "CHFJPY": {
      "base": "CHF",
      "quote": "JPY",
      "higher": "JPY",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "EURGBP": {
      "base": "EUR",
      "quote": "GBP",
      "higher": "GBP",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "EURJPY": {
      "base": "EUR",
      "quote": "JPY",
      "higher": "EUR",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "NZDUSD": {
      "base": "NZD",
      "quote": "USD",
      "higher": "USD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "CADJPY": {
      "base": "CAD",
      "quote": "JPY",
      "higher": "CAD",
      "horizonDays": 90,
      "state": "unavailable",
      "label": "Insufficient evidence",
      "reason": "Fresh macro data, reviewed guidance and a recent policy-rate snapshot are required for both currencies."
    },
    "GBPNZD": {
      "base": "GBP",
      "quote": "NZD",
      "higher": "GBP",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "GBPAUD": {
      "base": "GBP",
      "quote": "AUD",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "AUDUSD": {
      "base": "AUD",
      "quote": "USD",
      "higher": "AUD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "NZDCAD": {
      "base": "NZD",
      "quote": "CAD",
      "higher": "NZD",
      "horizonDays": 90,
      "state": "widening",
      "label": "Widening lean",
      "reason": "NZD currently has the higher benchmark. The two bank leans suggest greater separation, conditional on the evidence persisting."
    },
    "EURCAD": {
      "base": "EUR",
      "quote": "CAD",
      "higher": "EUR",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "EURNZD": {
      "base": "EUR",
      "quote": "NZD",
      "higher": "NZD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    },
    "GBPUSD": {
      "base": "GBP",
      "quote": "USD",
      "higher": "USD",
      "horizonDays": 90,
      "state": "unclear",
      "label": "Direction unclear",
      "reason": "The economic and policy evidence is mixed for at least one bank."
    }
  }
}