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16 Sep 2013
Flash: NZD/USD targets 0.83/0.8360 now - Westpac
FXstreet.com (Barcelona) - According to Imre Speizer, FX Strategist at Westpac, the breakout in NZD/USD above 0.8170 - key technical level - now targets the 0.8300-0.8360 area.
Key Quote
"The combination of a hawkish RBNZ (last Thursday it quantified its stance by implying the tightening cycle will start in April 2014 and take the OCR 100bp higher by the end of 2014) plus the likelihood the Fed will start to taper QE by a modest $10-15bn means the NZD/USD will be free to reflect NZ's improving fundamentals and continue making multi-month highs."
Key Quote
"The combination of a hawkish RBNZ (last Thursday it quantified its stance by implying the tightening cycle will start in April 2014 and take the OCR 100bp higher by the end of 2014) plus the likelihood the Fed will start to taper QE by a modest $10-15bn means the NZD/USD will be free to reflect NZ's improving fundamentals and continue making multi-month highs."