Sitting long NZD makes sense

With RBNZ toning down their dovishness and taking a leaf from Governor Lowe at the RBA I like sitting on the NZD bid again. On the USD side with Fed openly adopting a dollar devaluation leg, the view is that NZDUSD retreats higher into the 0.640x.

Tracking sentiment around impeachment, saudi, trade war and brexit closely for any disruptions to the flow... While to a lesser extent AUDUSD will also outperform in the short-term with the Panda back on the bid.

Good luck those positioning for the end of month/quarter rebalancing.

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The handle couldn't hold the Q end positioning, updated chart coming here tomorrow.