Westpac Research notes:
AUD/NZD 1 day: Setting up for a downward correction (which would be consistent with the RBNZ disappointing the bears on Thursday) towards 1.0600.
AUD/NZD 1-3 month: The RBA will probably remain on hold (albeit with easing risk), while the RBNZ has a conditional easing bias. Expected RBA vs RBNZ direction thus favours AUD/NZD over the medium term, such that 1.1300 is feasible.


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