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- NZD/USD: Price action is ugly – ANZ
NZD/USD: Price action is ugly – ANZ
NZD/USD made another cycle low. Economists at ANZ Bank analyze the pair’s outlook.
FX markets remain very USD-centric
FX markets remain very USD-centric and while pondering local factors and target levels, we think it pays to keep in mind that this is all a dollar story and where that leaves the Kiwi is very secondary.
US 10-year bond yields haven’t quite hit 5% but they are higher, and we still worry about USD upside risks, especially with Fed Chair Jerome Powell keeping a very open mind while admitting that the neutral US policy rate may be higher and that we may be entering a period of higher inflation.
Lots to ponder, but stepping back, NZD price action (lower lows and lower highs) is ugly.
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