Thursday, July 21, 2016

Poising For A RBNZ Cut





FX Research
by Saktiandi Supaat


Poising For A RBNZ Cut





NZDUSD slipped as rate cut bets rose. RBNZ said that strong NZD exerts downside pressure on dairy and manufacturing sectors. A decline in exchange rate is needed and further policy easing will be required to ensure future average inflation settles near the middle of the target range. We reiterate our bearish bias on NZD on rising expectation for RBNZ rate cut (implied probability from OIS for a rate cut in Aug has now jumped to 91%, from 35% a month ago), RBNZ explicit intent for....

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