ANZ holds NZD/USD short
ANZ holds a short position on NZD/USD from $0.8600 and with a target of $0.8200.
They see four main factors that point to a further decline in NZD/USD:
- dairy prices are flat with persisting downside risks;
- political risks: "the election is not the fait accompli it once was";
- markets move to reducing probabilities for RBNZ action, ANZ monthly inflation gauge shows;
- USD developments remain bullish.
Chart. Daily NZD/USD