Forex Flash: NZD/USD slightly overvalued on a long-run basis – BNZ (Barcelona) - According to BNZ's Currency Strategist Mike Jones: “The NZD has become slightly more overvalued on a long-run basis. The NZD/USD, NZD/GBP, and NZD/EUR are now all trading well over one standard deviation above their long-run equilibriums. This does not necessarily imply immediate pressure on these currency pairs to fall,” the analyst notes, adding: “all of these currencies have been more overvalued in the past. However, it does support the idea additional upside in the NZD/USD, NZD/EUR and NZD/GBP could be limited,” Mike concludes.