The kiwi is consolidating below 0.6 while analysts at ANZ Bank see the threat of negative rates, foreign asset purchases and wavering risk appetite as challenges ahead.
Key quotes
“Yesterday’s Budget spend-up has done little to lift spirits, which is not all that surprising given that it was a debt-fuelled spend-up.
“Medium-term, we still see the threat of negative rates, foreign asset purchases and wavering risk appetite as challenges going forward for the Kiwi.”
“Support 0.5850 Resistance 0.6170”
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