Ella 
190
A drop in risk appetite weighed on the kiwi.
Markets do look nervous, with reduced risk appetite weighing on the kiwi.
Resilience in the U.S. (and continued hawkish rhetoric from Fed speakers) remains a theme, and in this case, coupled with slowing growth in China and current account Being in focus as a risk factor, a strong catalyst is needed to get the kiwi out of the woods. But don’t expect that from the RBNZ. They are currently standing firm and enjoying it. We expect another rate hike from the RBNZ, but November is still far away.
