Excessive AUD and NZD strength are not justified – Commerzbank AUDUSD NZDUSD China Coronavirus Banks
decided to ease coronavirus curbs. Nonetheless, excessive AUD and NZD are not justified, according to economists at Commerzbank.“Corona measures are being eased more quickly than one might have assumed even last week. In particular as the introduction of these measures had initially caused CNY, AUD and NZD weakness the FX market had potential for a correction. I completely agree with that, in particular as I was critical about the initial market reaction.
“I know that everyone blamed the corona lockdowns for weak growth in China. However, even if we see a reversal in China’s lockdown policy that does not mean that everything will be happiness ever after. That means that excessive AUD and NZD strength is not justified.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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