Thursday, April 1, 2010


Wondering why the NZD fell over tonight?
The IMF has come out and said the NZD is between 10 and 25% overvalued.  Where were they last year when I kept trying to short it and it didn't work!
That means they view NZDUSD fair  between 0.64 and 0.53.  It trades tonight at 0.7075 ...
The NZD has been uber-strong against pretty much everything by virtue of its favourable rate and it's Mrs Watanabe's favourite trade.  One to watch

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