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6 Nov 2015
NZD/USD: door open for a test of 0.63 year-end – BAML
FXStreet (Edinburgh) - BofA Merrill Lynch Global Research has suggested the Kiwi dollar could grind lower towards the 0.63 handle vs. the dollar by end of 2015.
Key Quotes
“As the market widely expected, the RBNZ kept the OCR at 2.75% at the October 29 policy meeting and retained a dovish bias by noting that "some further reduction in the OCR seems likely".
“The RBNZ is expected to remain its easing bias and has shown desire for a lower currency which will keep pressure on NZD”.
“We retain our bearish view on NZD and expect NZD/USD to reach 0.63 by end-of-2015 and 0.60 by end-of-2016”.
Key Quotes
“As the market widely expected, the RBNZ kept the OCR at 2.75% at the October 29 policy meeting and retained a dovish bias by noting that "some further reduction in the OCR seems likely".
“The RBNZ is expected to remain its easing bias and has shown desire for a lower currency which will keep pressure on NZD”.
“We retain our bearish view on NZD and expect NZD/USD to reach 0.63 by end-of-2015 and 0.60 by end-of-2016”.