Investors should sell the New Zealand dollar against the yen and bet the currency will decline to 59.80, according toStandard Bank Plc.
Investors should end the trade should the so-called Kiwi advance to 63.10 yen, Steve Barrow, Standard Bank’s head of research for Group-of-10 currencies in London, wrote today in an e-mailed note. The bank set an initial target of 60.75, Barrow said in the note.
New Zealand’s currency bought 61.60 yen as of 12:22 p.m. in London. It has declined 8.4 percent versus the yen since the end of 2009, according to data compiled by Bloomberg.
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