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Analysts at Bank of America Merrill Lynch, are increasingly bearish on NZD/USD pair, while they maintain their bullish outlook on USD/CAD pair.

Key Quotes

“These signals are supported by medium-term valuation and monetary expectations.”

“Bullish USD/CAD is further supported by flows, positioning and momentum, a potentially powerful mix of signals rarely aligned together.”

“Bearish NZD/USD is also supported by seasonals.”