However, “any dip is expected to be shallow and short-lived, reflecting supportive NZ-AU growth, commodity price and interest rate dynamics. We doubt support at 0.8150 will be breached.” writes the BNZ Research Team.
Indeed, we have this morning taken profit on our strategic NZD/AUD long position, entered at 0.7960, for a 4.1% return. We’d use any post-RBA sell-off as an opportunity to re-enter a long position.
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