ANZ: Longer Term Optimism Vs. Delta Worry

ANZ note that "the Kiwi held fairly steady through local trading Friday, and the into the end of the week in NY, comfortable for now at the year's lows. Our sentiments remain the same - longer term we are optimistic, but that's conditional on beating Delta, and there could well be more bad news to digest over the coming few days and weeks. So it's a delicate balance. The path of the economy really does depend on Delta. As optimistic as one can be (given NZ went hard, early), markets will still take things one day at a time, especially given what they have seen in Australia, which tends to colour views on the Kiwi. With no data today, all eyes will be on the lockdown extension announcement."