Back
28 Jan 2014
Flash: NZD/JPY to trade above 0.8600 for much of H1 2014 - BNZ
FXstreet.com (San Francisco) - Kymberly Martin, Strategist at BNZ, commented in a recent report that BNZ expects attention to return to NZ-JP fundamentals that favor the NZD and then, a NZD/JPY rebound to trade above 0.8600 almost all the H1 2014.
Key Quotes:
NZD/JPY has been a casualty of emerging market inspired global risk aversion
Emerging market concerns appear more home-grown than related to US Fed expectations
If risks remain contained we expect attention to return to NZ-JP fundamentals that favour the NZD
We see the recent pull-back in the NZD/JPY as a symptom of (hopefully) relatively short-lived risk aversion. We anticipate NZD/JPY fundamentals will re-assert themselves and the cross returning to trade above 86.00 for much of H1 2014.
Key Quotes:
NZD/JPY has been a casualty of emerging market inspired global risk aversion
Emerging market concerns appear more home-grown than related to US Fed expectations
If risks remain contained we expect attention to return to NZ-JP fundamentals that favour the NZD
We see the recent pull-back in the NZD/JPY as a symptom of (hopefully) relatively short-lived risk aversion. We anticipate NZD/JPY fundamentals will re-assert themselves and the cross returning to trade above 86.00 for much of H1 2014.