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Hardy: Why the Kiwi dollar could be punished
Out of all the so-called “commodity currencies”, the Australian dollar has been the biggest loser. But John Hardy, Saxo Bank’s Head of FX Strategy, says this could soon change. The New Zealand dollar in particular looks vulnerable to a change in risk appetite. And he says the market’s ready for the Canadian dollar to move out of its long term range against its US counterpart.
With regards to the Kiwi, John says it’s far too strong given the themes in the market. It’s the less liquid of the three currencies and could be punished the most should risk sentiment change.
The Aussie, says Hardy, is still weak but the market is positioned for that. The Canadian dollar’s persistence against the Greenback has been “unbelievable”, says John, and we could soon see it break out of its long-term range.
01:41 minutes
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