Originally Posted by
Daytr
Big call & maybe you are right, but not into bottom picking & would rather see a clearer trend.
The Kiwi has come a very long way. In saying that if you look at pre EURO which caused massive weakness in the USD this level would have been considered high for the NZD.
Perhaps the Kiwi maybe seen as a bit of a safe haven as so far away from where the chaos is, however history is against it.
I think the RBNZ will lower rates by another 75-100bps yet & I would suggest at most half of that is factored in.
You may see more upside tonight after the FED as I think they will be kicking the can down the road on interest rate hikes, but its a bit of a guess.