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NZD/USD seen at 0.62 by year-end – TDS

FXStreet (Edinburgh) - In the view of strategists at TD Securities, the Kiwi dollar could drop towards the 0.62 handle by end of 2015.

Key Quotes

“The RBNZ on Sept 10 slashed its bank bill and TWI forward guidance, as expected”.

“But in contrast to the RBA, the RBNZ still incorporates an even lower NZD TWI, looking for 66.3 by mid-2016, another 3+% depreciation from current levels”.

“Net spec positioning has seen net shorts trimmed right back to about square, consistent with NZD closer to $US0.70! Rather, we target $US0.62 by year end, and $US0.59 by end-2016”.

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