Risk-Aversion Sentiment To Renew Kiwis Dollar’s Bearishness

We have been bearish NZDUSD, owing to idiosyncratic growth challenges, and a dovish central bank. The RBNZ’s priorities are quite clear. They want a weaker exchange rate and have greater than average risk tolerance in getting it. Mid-May’s burst of RBNZ dovishness was followed by a pretty much uninterrupted 8% rally in NZDUSD. In reality…

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