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7 Aug 2014
Negative bias persists in NZD/USD – Westpac
FXStreet (Edinburgh) - Strategists at Westpac Global Strategy Group keep the bearish stance on the Kiwi.
Key Quotes
“We retain a negative bias toward NZD/USD, targeting a test of 0.8400 during the next few weeks”.
“Although NZ’s recent negative domestic news appears to have been fully digested (witness NZ swap yields consolidating during the past few days), US dollar sentiment remains solid and RBNZ intervention remains a background risk”.
Key Quotes
“We retain a negative bias toward NZD/USD, targeting a test of 0.8400 during the next few weeks”.
“Although NZ’s recent negative domestic news appears to have been fully digested (witness NZ swap yields consolidating during the past few days), US dollar sentiment remains solid and RBNZ intervention remains a background risk”.