NZ dairy prices fell further - RBS

FXStreet (Bali) - Dairy prices fell further at auction this week, likely leaving any further gains in the NZD as even more “unwelcome” for the RBNZ, notes Brian Daingerfield, FX Trading Strategist at RBS.

Key Quotes

"Dairy prices fell further at auction this week, likely leaving any further gains in the NZD as even more “unwelcome”, to use the RBNZ’s own words. As a result, we think the risk-reward favours NZD downside through the release – AUD/NZD may have further upside given the divergent tones of the two central banks."