NZD: Sentiment hits a low – BNPP

New Zealand’s political concerns have weighed on the NZD, and bearish sentiment towards the NZD appears extreme, according to Natalie Rickard, FX Strategist at BNP Paribas.

Key Quotes

“Over the coming months we expect global risk appetite to remain supported, which should benefit the NZD.”

“There appears scope for the RBNZ to strike a less dovish tone around the currency following the recent depreciation.”