Hardy: Watch out for NZDUSD double trouble

With the Reserve Bank of New Zealand widely expected to cut rates, it’s all about the forward guidance when the RBNZ meets, says Saxo Bank’s John Hardy. Hardy says that depending on the RBNZ’s outlook, there is a risk that the recent sell-off in Kiwi may have been overdone in the short-term and that if the USD sentiment isn’t there, it could spell double-trouble for NZDUSD. Hardy does expect Kiwi to go lower in the coming months and outlines the levels he is looking for.