Flash: NZD position stretched? - BAML

FXstreet.com (London) - Adarsh Sinha, strategist at Bank of America Merrill Lynch said “there is limited evidence that NZD positioning or valuation is stretched”.

Key Quotes:

“…although New Zealand's cyclical and commodity price outperformance seems appropriately priced in at these levels”.

“The Reserve Bank of New Zealand (RBNZ) may be concerned about the TWI approaching its highs but we think it will find it difficult to credibly talk down the NZD given its generally hawkish policy stance”.

“NZD remains a winner post-FOMC”.