FXStreet (Edinburgh) – Kit Juckes, Strategist at Societe Generale, sees the Kiwi dollar could extend further its squeeze in the very near term.
Key Quotes
“The RBNZ cut rates 25bp (to 3%) and welcomed NZD weakness, suggesting roe was likely”.
“The bills futures sold off, as they were pricing in more than a 25bp cut, and the NZD bounced 1%, before settling into a tight range until London opened, since when it has rallied further”.
“The market is short Kiwi, and if tomorrow’s Chinese PMI data are stronger, that’ll keep it bid”.
(Market News Provided by FXstreet)