Brown Brothers Harriman analyst Elias Haddad said NZD briefly fell below its
200-day moving average after the RBNZ’s Q3 inflation-expectations survey showed
mixed results but remained anchored near the 2% midpoint. Haddad said with
inflation still above target, stronger domestic growth and the policy rate near
the lower bound of neutral, there is a case for further hikes, and FED SWAPS are
fully pricing about 75bp of tightening—supportive for the NZD.