In view of FX Strategists at UOB Group, the Kiwi Dollar stays neutral and it has moved back into a sideline theme.
Key Quotes
24-hour view: “We expected a lower NZD yesterday but held the view that “any weakness is likely limited to 0.6580″. However, NZD managed to edge below 0.6580 before rebounding quickly from a low of 0.6576. The mild downward pressure has eased and from here; we expect NZD to trade sideways, likely between 0.6575 and 0.6620″.
Next 1-3 weeks: “NZD traded in a relatively manner since our last update on Friday (28 Sep, spot at 0.6615) and there is no change to our view. The outlook for NZD remains neutral and the current movement is viewed as part of a 0.6560/0.6660 consolidation range”.
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