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NZDJPY's run and what's next with the RBNZ
Watching $NZDJPY's push today, currently around 94.073, testing the day's high of 94.117. It's been quite the run up, and you have to wonder how much more gas is in the tank, especially with the RBNZ meeting looming. The market's already priced in a lot of hawkishness for the Kiwi, so the real question is whether they can surprise us even further. Any hint of a more cautious tone, or even just a lack of new hawkish signals, could see some profit-taking. On the flip side, if they really lean into the higher-for-longer narrative, we could see it break out of this range. Just keeping an eye on the technicals here, seeing if we get a decent pullback or a clear push through resistance.
1 comments · 1 points
Agree, the hawkishness is well priced in. I'm looking for any subtlety in their forward guidance on the OCR, that's where the real surprise could be.