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NZD/USD sell-off exaggerated? – Danske Bank

FXStreet (Edinburgh) - Kasper Kirkegaard, Chief Analyst at Danske Bank, expects the RBNZ to stay put and refrain from intervening.

Key Quotes

“The rally in the USD continues, particularly against European currencies and the NZD”.

“We believe that the move in NZD/USD on the back of Thursday’s comments from RBNZ Governor Wheeler is excessive, as we do not expect the central bank to intervene”.

“Indeed, our short-term financial models have a fair value estimate for NZD/USD of 0.82 suggesting that the current spot level is in oversold territory”.

“For the major currencies, there are no first-tier data to focus on today”.

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