The New Zealand dollar is beginning to look overbought and therefore vulnerable to a sell-off, say FX brokerage LMAX Exchange, Nasdaq reported. “There is risk for a topside failure in the sessions ahead,” the broker warned in a recent note to clients. A sustained run of good data coming out of the New Zealand economy and a central bank that is unwilling to cut interest rates further for the time being are all proving supportive for the currency. The NZD did however turn lower on the final day of trade of the week in sympathy with a global decline in risk sentiment.
