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#SaxoStrats: Shorting NZDUSD into the RBNZ meeting

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March 07, 2016 central bank, currencies, currency, dollar, forex, fx, kay van-petersen, kiwi, new zealand, nzd, nzdusd, reserve bank of new zealand, saxo, saxo bank, saxo bank tradingfloor.com, saxo tv, saxobank, saxobank.com, saxostrats, saxotv, sell, sell short, short, shorting, trade, tradingfloor.com, tradingfloorcom, us dollar, usd
Saxo Bank’s Asia Macro Strategist Kay Van-Petersen is looking to short NZDUSD into the Reserve Bank of New Zealand meeting this week as he believes that the Kiwi could be overextended against the US dollar.

Calling the trade tactical, Kay will sell short at $0.6800 with a stop at 0.6885. His targets are 0.6700 and 0.6650 and Kay will move out of the trade before the RBNZ meeting. The meeting is scheduled for Thursday Asia time/Wednesday evening Eurozone and US time.