Sell Australain Currency Against New Zealand Dollar, Standard Bank Says

Investors should sell the Australian dollar against its New Zealand counterpart, according to Standard Bank Plc.

The Australian currency may weaken to 1.2360 versus the kiwi, as New Zealand’s dollar is known, Steve Barrow, head of Group of 10 foreign-exchange research at Standard Bank in London, wrote today in a report. Investors should end the trade by leaving a stop order at 1.2790, he said.

The Aussie declined 0.1 percent to 1.2601 against the kiwi as of 14:41 p.m. in London. It has risen 1.4 percent against its counterpart so far this year.

To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net.

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