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Jan 12 - 02:55 PM

NZD: In Demand As Hedge Funds Buying But Caution Is Warranted Here - Credit Agricole

By eFXdata  —  Jan 12 - 01:30 PM

Credit Agricole CIB Research adopts a cautious bias on NZD in the near-term.

"The NZD remained in demand, with speculative oriented investors such as hedge funds buying. While firm risk appetite coupled with the currency’s firm rate advantage has been driving part of the latest development, the currency is now trading close to strongly overbought territory," CACIB notes. 

"From that angle, caution is warranted with corrective downside risk being on the rise," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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