"NZD will probably come under pressure in the next few weeks"

A snippet from HSBC, with a view on the New Zealand dollar, looking for a lower kiwi in the weeks ahead citing "broad risk sentiment and shorter-term yield differentials.”

• Markets may be concerned as policy rates move into restrictive territory, and a hawkish policy stance may cause ‘hard-landing’ risks to rise
• With the Fed having a much firmer footing from which to tighten further, shorter-term New Zealand-US yield differentials are unlikely to offer much support the NZD NZD The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a The New Zealand Dollar (NZD) is the official currency of New Zealand and the tenth most traded currency in the world. Also referred to as the Kiwi, the currency is also utilized in several Pacific islands, including Tokelau, the Cook Islands, Pitcairn islands, and Niue.The NZD’s history is long, extending back to 1934 with the creation of the Reserve Bank of New Zealand. While far from the most traded currency in the global forex market, the NZD has a key role nonetheless.The NZD is considered a Read this Term

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Huh. Hardly an hour passes now without someone adding to the chorus of more Fed tightening coming. I mean, it is, but for positioning purposes the consensus is very, errr, consensusy (I know that's not a word but you know what I mean, yeah?)

USD index, daily: