Having raised the interest rates last week the RBNZ seems to have landed itself a conundrum. But with the early intervention that happened in the early hours of morning trading the currency just took a sprint south. A shocker it was/still is but as we all know you just have to ride the currents.
Just incase one is wondering where this rant is leading to, I was riding the gravy train when the NZD sell happened and it did hit my wide stops :eek: and I needed to vent my disappointment :mad: . Nothing I can do now but stay on the sidelines just to see how long RBNZ can tie down the pair considering that there is a limit to what the bank can manipulate the markets. Selling the NZD by the bank isn’t going to do much but if there is a rate cut the pair will most certainly go down.
I feel a bit better now :slight_smile: .
Back to the charts :stuck_out_tongue:

Seems like the RBNZ has taken a breather with the infamous intervention. NZDUSD has gone up as it would have without the Reserve Bank’s intervention.
Who’s got their tail nicely tucked between their legs? The fundamentals still point to a stronger Kiwi. Not only the Kiwi but the ComDols will be heading for a stronger standing.
I just needed to air my personal opinion.