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NZD Loses Altitude On RBNZ Comments


The Kiwi takes a hit after BBG runs an interview with RBNZ Chief Economist Ha, who expresses preference for a lower NZD. This is nothing new, but seemingly enough to sap strength from the NZD.

  • NZD/USD swings to a loss, last trades -4 pips at $0.6574. Familiar technical levels remain in play.
  • AUD/NZD has added 19 pips, further bolstered by Australia's above-forecast labour market data. The rate sits at NZ$1.0907 at typing. Bulls look for a break above yesterday's YtD high of NZ$1.0922 before targeting the psychological NZ$1.1000 level. Bears look for a pullback under Jun 2 high of NZ$1.0881.
  • NZD/JPY last deals -19 pips at Y70.14. A fall through Jul 30 low of Y69.55 would open up the 200-DMA at Y68.86. On the topside, focus falls on Aug 7 high of Y70.62, followed by Jul 23 high of Y71.68.
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