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NZD Slipped by 0.3% in Response to the AUD Move - SocGen
Kit Juckes, Research Analyst at Societe Generale, suggests that the NZD
has fallen 0.3% in response to the AUD move, so driving AUD/NZD sharply
lower.
Key Quotes
“I’d rather be short
NZD/USD than AUD/USD around these levels. Market pricing of a rate cut
at tonight’s RBNZ meeting (decision 10:00pm BST) is at 40% and has
barely moved.
Even more so than in Australia, a dovish signal
would likely accompany a decision to leave rates on hold. For the
technically-minded, a break below NZD/USD 0.6850 would suggest that the
upward-sloping channel we’ve been in for the last three months is
breaking.”
