BLBG: Sell New Zealand Dollar Versus Canada’s Dollar, Citigroup Says
Investors may profit by selling New Zealand’s dollar against the Canadian currency after New Zealand central bank Governor Alan Bollard said long-term interest rates had increased too much, Citigroup Inc. said in a note to clients.
New Zealand’s currency may decline to 66 Canadian cents, Citigroup said. The New Zealand dollar traded at 71.49 Canadian cents as of 7:26 a.m. in Sydney, after strengthening 11 percent in March.
