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Standard Bank Says Sell New Zealand Dollar Versus U.S. Dollar

Standard Bank Plc advised investors to sell the New Zealand dollar against the U.S. dollar, estimating the so-called kiwi will weaken to 68.20 U.S. cents.

Investors should end the trade should the New Zealand currency strengthen to 72.20 cents, Steve Barrow, head of research for Group of 10 currencies in London, said today in an e-mailed note.

The kiwi slid 0.9 percent to 70.06 cents as of 11:29 a.m. in London.

“The Aussie looks a sell as well, but we will await the result off this weekend’s election,” Barrow wrote in the note.

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