Flash: NZD sell flows dominating – BNZ

FXstreet.com (New York) - According to our Currency Flows Monitor (CFM), our corporate clients, in aggregate, have tended to go with the recent NZD sell-off rather than lean against it, notes Mike Jones, an analyst at BNZ.

“This is potentially significant – until recently, the prevailing attitude has been to ‘buy dips’. Last week, net flows for all NZD pairs were in the fourteenth percentile. This broadly matches the recent trend; three-month cumulative flows are currently tracking in the twenty-forth percentile. Put simply, sell flows are dominating.” Jones adds.