Research Team at ANZ, suggests that the USD effects are dominating the kiwi as NZD/USD trades above where it was before the RBNZ cut rates. Key Quotes “We continue to view the risks to the NZD outlook as being to the downside, but do not see an imminent catalyst, particularly with local data still robust. This leaves us favouring selling NZD/USD at the top of the range, but without any urgency. We do, however, expect the USD to revert from FOMC induced sell-off as the data continues to validate a gradual US rate normalisation path. That might well set off the next raft of unease as tensions between the real economy and financial markets flare.” For more information, read our latest forex news.