NZD/JPY: Multi-week range of 76- 80 should persist - Westpac

Imre Speizer, Research Analyst at Westpac, explains that a lull in negative news has allowed the high-beta NZD outperform the safe-haven yen recently, but the moves have been contained such that the multi-week range of 76- 80 should persist during the week ahead.

Key Quotes

“3 months ahead: The BOJ’s defacto tapering of its asset purchases should continue to support the yen. In addition, bouts of Trumpdisappointment will weigh on risk sentiment and boost the safe-haven yen. We see NZD/JPY remaining below 80 during the next few months.”