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- NZD: RBNZ shifts stance. If not considering long NZD vs. USD, go long NZD vs. AUD - MUFG
NZD: RBNZ shifts stance. If not considering long NZD vs. USD, go long NZD vs. AUD - MUFG
eFXdata reports that analysts at MUFG Research discuss NZD outlook following the RBNZ's latest shift in the policy stance.
"At today’s monetary policy meeting the RBNZ announced that it would end QE by 23rd July while removing the previous reference to needing “considerable time and patience” in order to achieve its monetary policy objectives. The RBNZ clearly stated that the policy of “least regrets” that had warranted leaving the monetary stance loose for longer could in fact be removed sooner than previously indicated."
"Market participants who may be reluctant to sell the US dollar may well see benefits in selling AUD/NZD given the current RBA guidance is for no rate hike until 2024."
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