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Forex pairs in this Article » NZD/JPY (Barcelona) - Regardless of the G7's view, Mike Jones, currency strategist at Bank of New Zealand, expect "the tailwinds under the NZDJPY to remain in place as NZ-JP interest rate differentials have already widened sharply" he says.

He also expects "this trend to continue as the RBNZ stands guard against a frothy housing market (reaffirmed by yesterday's REINZ data) and the Bank of Japan adopts an even more dovish stance under its new Governorship."

Mr. Jones suggests that dips in the NZDJPY "will be limited to support at 76.90 in our view, with a year-end forecast of 82.00."
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