Has the AUD/NZD bottomed out?: "Given that China recently overtook Australia to become New Zealand’s largest export market, the weaker Chinese imports number does not bode too well for the rallying Kiwi when compared to the Aussie. And with economic growth evidently picking up in Australia, there is even more reason to be bullish on the AUD/NZD currency pair which had recently fallen to multi-year lows. Admittedly, the Kiwi has got the backing of the RBNZ, which raised interest rates by 25 basis points last month, while the RBA may again choose to verbally intervene as governor Glenn Stevens did in the past. This remains one of the biggest risks for the AUD/NZD from a fundamental point of view."
'via Blog this'
