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Aug 12 - 12:55 AM

NZD: Mind The Monetary Policy Gap; Short AUD/NZD And Short EUR/NZD Attractive - Credit Suisse

By eFXdata  —  Aug 11 - 03:00 PM

Credit Suisse discusses NZD outlook and likes short AUD/NZD and short EUR/NZD exposures.

"USD rates have managed to keep step with increasingly hawkish monetary policy expectations for the RBNZ, leaving us still targeting a target range of 0.6850-0.7215 for NZDUSD in Q3," CS notes. 

"Ahead of the 18 August RBNZ meeting, we believe the monetary policy divergence story pitting the RBNZ against both the RBA and the ECB leave scope for AUDNZD to retry breaking below 1.0450, and for EURNZD to revisit 1.6550," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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