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13 Mar 2015
Case for selling AUD/NZD enhanced - RBS
FXStreet (Bali) - Greg Gibbs, FX Trading Strategist at RBS, note that the case for selling AUD/NZD has been enhanced by the latest RBNZ statement.
"The RBNZ has adjusted its message on the exchange rate, removing its assessment that it is unjustified with respect to current economic conditions and their expectation of further significant depreciation."
"This view is now less dovish than the RBA assessment that a lower exchange rate is still needed to address current conditions."
"If it were not for the prospect of macroprudential measures in New Zealand and growing risk of a bout of global risk aversion on a collapsing EUR, NZD might rise further."
"The RBNZ has adjusted its message on the exchange rate, removing its assessment that it is unjustified with respect to current economic conditions and their expectation of further significant depreciation."
"This view is now less dovish than the RBA assessment that a lower exchange rate is still needed to address current conditions."
"If it were not for the prospect of macroprudential measures in New Zealand and growing risk of a bout of global risk aversion on a collapsing EUR, NZD might rise further."