NZD: More to come

The RBNZ has initiated a hiking cycle with a 25bps increase to 2.50%. UBS analysts remain bullish on the NZD and suggest a short position on AUDNZD.

Key Takeaways

• 1.The RBNZ raised the official cash rate by 25bps to 2.50%, the first hike in three years.
• 2.UBS maintains an Attractive view on the NZD and expects further tightening with the next hike likely in September.
• 3.UBS recommends a short position in AUDNZD, targeting 1.18.

Table of Contents

• CIO View: NZDUSD
• CIO Forecast- NZDUSD
• Appendix

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