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Trading: AUDNZD Outlook Remains Bearish On Dovish RBA

David Song

The AUDNZD came under pressure as the Reserve Bank of Australia (RBA) struck a rather dovish tone for monetary policy, and we will maintain our game plan to sell rallies in the aussie-kiwi amid the deviation in the policy outlook. As the RBA shows a greater willingness to lower the benchmark interest rate further, we will preserve our bearish forecast for the AUDNZD, and will look to fade any moves towards the 1.2400 figure as the Reserve Bank of New Zealand (RBNZ) adopts a hawkish tone for monetary policy.

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