Forex Flash: NZD/USD should continue well bid; fundamentals supportive - BNZ
Forex pairs in this Article »
NZD/USD
FXstreet.com (Barcelona) - In the short-term, according to Mike Jones, currency strategists at BNZ, the NZDUSD should continue to trade "at the whim of offshore risk appetite and equity market sentiment" he said.
Mr. Jones adds: "Key in this regard is not only the strength of global data (which for the moment remains encouraging), but also US political developments with regard to the spending cuts portion of the fiscal cliff and the fast approaching US debt ceiling."
The fundamentals underpinning the NZD haven't changed, Mike notes, and "as long as these supportive factors remain in play, NZDUSD dips towards 0.8000 will be short-lived in our view..." he concludes.
Mr. Jones adds: "Key in this regard is not only the strength of global data (which for the moment remains encouraging), but also US political developments with regard to the spending cuts portion of the fiscal cliff and the fast approaching US debt ceiling."
The fundamentals underpinning the NZD haven't changed, Mike notes, and "as long as these supportive factors remain in play, NZDUSD dips towards 0.8000 will be short-lived in our view..." he concludes.
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