Investors Boost Bullish Kiwi Bets to Two-Year High on Rate Call
Bets by global investors on a New Zealand dollar rally reached their highest in more than two years on expectations that the nation’s central bank will be among the last to cut interest rates.
Hedge funds’ net long position in the kiwi rose to 12,563 contracts in the week ending June 25, the highest since December 2021, according to Commodity Futures Trading Commission data. Meanwhile, asset managers jumped to their most bullish outlook on the currency since January 2021, after flipping from a net short position earlier last month.