Traders should sell the Euro against the New Zealand Dollar, according to strategists at RBC Capital Markets, as recent events mean each currency is mispriced and the tables could turn in 2018.
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The bigger picture is the NZD is oversold and inflation is rising toward its target, meaning markets could soon look for an interest rate rise from the RBNZ.
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The Kiwi remains liable to push higher over the coming weeks but domestic politics mean strategists are taking a dim view of its medium term prospects.
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Order flow records from some City banks belies a shift in sentiment, with the appearance of small net-longs suggesting some bears could be turning into bulls.
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The charts are looking bullish for the Pound versus the New Zealand Dollar as election slowdown concerns remain a focus, but Brexit talks will have to go well for Sterling to outperform in the week…
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The New Zealand Dollar has fallen just about far enough against the Pound, say exchange rate experts at TD Securities who suggest punters position for a rebound.
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The New Zealand Dollar is well below what it should be according to bank estimates but rather than expecting it to recover, analysts see the currency as down and out.
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