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Thoughts on RBNZ and NZDJPY post-CPI
That RBNZ hawkish hold has me thinking about next steps for $NZDJPY; with the recent CPI print, I'm watching for any sustained break above 95.00, but the downside looks more likely if rate hike expectations temper globally.
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I'm seeing it similarly. While RBNZ stood pat, the global narrative around tempered rate hike expectations could definitely put pressure on NZDJPY, making a sustained break above 95.00 tough. Are you watching any specific global indicators for that downside trigger?