NZD/USD up 33 pips to 0.7065 today
The weekly FX pick from TD Securities is NZD/USD.
They recommend buying the pair at spot with a target of 0.7200 and a stop at 0.6900.
“We entered a long NZD/USD position in our TOTW book, focusing on the major discounts priced in. It’s currently the cheapest major currency on high-frequency fair value, trading near a 4% discount,” TD notes.