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Jun 23 - 09:55 AM

NZD: No RBNZ Dove Nor Hawk Will Fly With NZD - Citi

By eFXdata  —  Jun 23 - 09:03 AM

Citi discusses its expectations for tonight's RBNZ policy meeting. 

"The latest CitiFX Flows & Positioning: Real Money Short NZD shows a market that is now long JPY and AUD versus short NZD, GBP, and USD. NZD stands out among them – shorts now in stretched territory against light positioning elsewhere in G10. The move has been led by real money," Citi notes. 

"As for the upcoming meeting, CitiFX Strategy expects a hold in rates and a dovish tone but minimal market impact. Bigger picture, we maintain our bias for AUDNZD upside into the 1.10/1.15 range in 2H this year," Citi adds. 

Source:
Citi Research/Market Commentary

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