-
Kiwi Bears Eye Inflation to Kickstart Selloff That RBNZ Couldn’t
Not even a dovish Reserve Bank of New Zealand has prevented a kiwi rebound extending, but that’s not stopping some investors from positioning for weakness with one eye on this week’s key inflation data. A split has opened up between modestly bullish leveraged funds and their much more bearish asset manager counterparts, according to a tally of New Zealand dollar positioning bets from the Commodity Futures Trading Commission. The fast money contingent are recent winners with the kiwi up some 6% from its end-of-May low against the greenback, though the currency is still little changed on the year. New Zealand’s ... (full story)