28 Oct 2013
Flash: Delayed Fed taper keeps NZD/USD supported - UBS
FXstreet.com (Córdoba) - The UBS analyst team raised their NZD/USD forecast to 0.8300 over 3 months, from 0.8000 previously.
Key Quotes
"The prospect of a delayed Fed taper may limit the short-term strength of the USD, while the NZD should be supported by resilient domestic economic data".
"We keep our 6 and 12-month forecasts unchanged at 0.8000".
"The NZD remains highly overvalued, in our view. Its large current account deficit makes it vulnerable to capital outflows, once stronger US economic conditions enable the Fed to start tapering QE in March 2014".
Key Quotes
"The prospect of a delayed Fed taper may limit the short-term strength of the USD, while the NZD should be supported by resilient domestic economic data".
"We keep our 6 and 12-month forecasts unchanged at 0.8000".
"The NZD remains highly overvalued, in our view. Its large current account deficit makes it vulnerable to capital outflows, once stronger US economic conditions enable the Fed to start tapering QE in March 2014".