• NZD sell flows continue to dominate
• Exporters still well covered, although hedging duration continues to drift lower
• Importers using bounces to extend hedging duration
The overall themes from our Currency Flow Monitor (CFM) remain broadly similar to our last (July) update. That is, corporate hedging behaviour seems to be slowly moving to reflect a lower future value of the NZD.
Read the full report: FX Research
BNZ