Mar 13, 2013
Forex Flash: Market fails to take pre-emptive plunge ahead of RBNZ – UBS
Although the recent news flow continues to point to the need for somewhat tighter conditions in New Zealand, it appears that the market is unwilling to take the plunge on pre-emptive RBNZ moves. Indeed, corporates and hedge funds have been adding to shorts in recent weeks. Clearly, the need to reconcile tighter conditions with 'overvalued' currency has resulted in a hesitant RBNZ, and deterring potential longs in the meantime.
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