Investors can look to the New Zealand dollar for buying opportunities, in particular against the Australian dollar which is likely to head lower in coming months, says Ed Ponsi, Managing Director at Barchetta Capital Management.
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Eric Viloria, Currency Strategist at Wells Fargo, expects the Kiwi to rise to 88 cents versus the greenback in 2014, after the Reserve Bank of New Zealand on Thursday hiked rates and signaled further tightening ahead.
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The dollar and yen rose Wednesday as worries that a slowing U.S. economy may stall global growth fueled a bid for currencies seen as safe havens.
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The euro dipped on Monday, its bounce losing steam ahead of chart resistance as investors covered short positions in the dollar following a slide in the U.S. currency late last week.
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