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Nothing particularly new from RBNZ Gov. Orr....>

KIWI
KIWI: Nothing particularly new from RBNZ Gov. Orr as of yet outside of comments
on the NZD.
- Orr noted that the NZD will be the number one shock absorber if global risks
rise, while noting that he is "very pleased" with the level of the kiwi, which
he deems close to fair value.
- NZD holding lower, albeit off of worst levels, with NZ 2-Year IR swaps hitting
the lowest levels seen since Oct '16 on the back of the dovish tinge to the
RBNZ's statement/MPS.
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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