Kay Van-Petersen, Asia macro strategist at Saxo Bank, digests market moves following the RBNZ’s decision to cut interest rates by 25 basis points to 2%.
The kiwi rose by 200 pips after the announcement and he says possible price action could be higher NZDUSD.
Central banks may continue to cut rates and expect their currencies to fall, he added, but sometimes an unexpected reaction occurs instead.
Central Banks’ Waning Appetite Seen in Currencies, JPMorgan Says
The negativity around sterling since Brexit never seems to end, according to Alan Collins from 3cAnalysis.com. He believes that there are bearish signals and expects to sell GBPUSD. Collins provides a technical analysis of GBPUSD to explain why the pair could attract sellers.
Dollar Falls, Bonds Rise on Bets Fed to Move Slowly; Kiwi Jumps
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