It is rare nowadays to see high level volatility and/or productive underlying trends. The New Zealand Dollar (Kiwi) seems to be promoting both. The currency has been under significant pressure for some months owing to its steadily deteriorating monetary policy outlook and a general distaste for the historically-low carry the currency renders against a backdrop of uneven risk appetite. The question therefore is: how novel is this fundamental perspective? Does the market need to account for a troubled outlook that is not presently reflected in the value of the currency or has its slide thus far moved the currency to a ... (full story)