NZD level unjustified - ANZ

FXStreet (Guatemala) - Sam Tuck, analyst at ANZ explained that the RBNZ has signalled a monetary policy pause, and labelled the level of the NZD as “unjustified”.

"The step up in rhetoric suggests the RBNZ’s ‘criteria for intervention’ has been met".

"We’re on notice the RBNZ may seek opportune periods to demonstrate the wider tools in their armoury".

"The NZD still looks toppy; the domestic economy has peaked and prospects remain for the USD to firm (as indicated by ANZ’s March FOMC forecast)".