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Forex Flash: NZD/JPY at 95 not outside the bounds of possibility - BNZ

FXstreet.com (Barcelona) - With NZD/JPY last at 84.46, off recent fresh 5-year highs at 84.75, Currency Strategist at BNZ Mike Jones says “that further appreciation in NZD/JPY is likely.”

“Our previous year-end NZD/JPY forecast of 82.50 has been achieved well ahead of time,” the analyst notes, adding: “We have now revised this to 89.00. Our forecasts suggest a ‘peak’ of 91.00 in March 2014, although valuation analysis suggests 95.00 is not outside the bounds of possibility,” he concludes.

Forex Flash: USD to trade more robustly against KRW, PHP and SGD – ANZ

According to Richard Yetsenga & Khoon Goh, analysts at ANZ Research: “The US dollar is likely to trade more robustly against currencies where competitive pressure from Japan or policymaker resistance are likely to be greatest,” the team says, “or where the risk of a reallocation of global equity capital toward Japan is prevalent.”
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Forex Flash: RBNZ rates at 4.5% by mid-2015 – BNZ

With NZD/USD last around fresh 18-month highs above the 0.85 handle and just 300 pips below record 30-year highs: “We expect the NZ OCR will remain unchanged until Q1 2014,” says Kymberly Martin, Strategist at BNZ, adding: “The RBNZ has time to assess the multitude of divergent forces on the NZ economy (house price pressures, ChCh reconstruction, drought impact, fiscal tightening) without being rushed into action.”
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