It is difficult to see the New Zealand dollar stage any kind of sustainable rally. Data is likely to portray softer growth than the Reserve Bank's projections.
More Quotes from Sean Comber:
The labor market data is expected to record some deterioration. This will keep the New Zealand dollar on the defensive.Sean Comber
Any sign of softening will see markets bring forward expectations of rate cuts. Tough talk on interest rates may provide further opportunities to sell New Zealand dollars.
Sean Comber
Yield demand for the New Zealand dollar appears to remain unquenched.
Sean Comber
The sticking point for the Reserve Bank is still inflation. It is likely to be September before the bank is comfortable that pressures have dissipated enough.
Sean Comber
The yield differential story is going to continue to be there. The Fed is getting closer to the end of their tightening cycle.
Sean Comber
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