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ANZ note that overnight saw "another round.....>

KIWI
KIWI: ANZ note that overnight saw "another round of solid performance for the
Kiwi; again it was nothing NZD specific, but rather just a generally upbeat
market mood. This "beta" price action won't stop until locally differentiating
factors arise. The RBNZ's August MPS might be that thing: by then the RBNZ will
likely be ready for foreign asset purchases, which would really introduce
something NZD-specific for the Kiwi, which while not massively over-valued given
how well we have fought the virus and sort of returned to normal, is still a
headwind to the recovery."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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