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RBNZ ready to lean into NZD over strength - ANZ

FXStreet (Bali) - ANZ FX Strategists expect the RBNZ to remain ready to lean into any over strength in the Kiwi.

Key Quotes

"The RBNZ has intervened in the currency markets, committing 521m of NZD funds. They also increased their intervention capacity."

"The mode of intervention signals intent, the RBNZ was happy to sell into a falling market."

"We expect the RBNZ to remain ready to lean into any overt strength, unless the ‘opportune’ environment alters."

"We maintain our short NZD/USD position (established 12 September at 0.8170), but tighten the trailing stop to 100 pips, on a New York close to close basis."

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