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ANZ note that "so far, there is little.........>

KIWI: ANZ note that "so far, there is little evidence that the tighter Fed
policy is slowing the fiscal-fuelled juggernaut that is the US economy, but the
cooling in the housing market is arguably a notable exception. Meanwhile here in
New Zealand the market continues to price a decent chance that the next OCR move
is a cut after the very dovish Monetary Policy Statement earlier this month.
That divergence, plus increasing evidence that New Zealand commodity prices may
be past their best, means we expect the NZD to remain under pressure over the
rest of the year (despite a decent bounce in the past week). We are forecasting
NZD/USD at 0.62 by year end."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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