Westpac's G10 FX model "finally ditches its...>

FOREX: Westpac's G10 FX model "finally ditches its NZD short, a notable shift

given the model has held a short NZD bias for the better part of 2.5 years. It's

not clear if that will be a meaningful ongoing shift in the model's stance; much

depends on NZD growth, yields and global risk appetite in coming weeks. The

model has briefly flirted with NZD longs a few times in the last couple years

before reverting to a structural short. For the week ahead though a less weak

NZD yield signal and strong risk appetite see the model square up. Elsewhere,

the model maintains modest AUD and CAD longs for another week and sticks with a

negligible USD short."