Better risk sentiment supports NZD
Jason Wong -
Some overhanging global concerns receded in October, driving risk appetite higher
Sees higher global equities and rates
NZD higher while safe-haven currencies underperform; GBP a star performer
NZD mildly weaker through September
Jason Wong -
• Stronger risk appetite saw higher equities and global rates, but the NZD weakened nevertheless…
• …with speculators taking net short positions to a record high as NZ economic data underwhelmed
Trade wars and big rate cut drag down NZD
Jason Wong -
• In August the NZD underperformed, alongside the yuan, as the US-China trade war escalated
• Global and NZ rates fell to fresh record lows