Sell New Zealand's Dollar Versus Japan's Yen, Standard Bank's Barrow Says
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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