NZD/JPY

Fundamentals favour the New Zealand Dollar by 21 points.

On the Macro Currency Strength Meter, the New Zealand Dollar scores +2 and the Japanese Yen scores -19 — a gap of 21 points in favour of the New Zealand Dollar. The widest divergence is in risk mood, which favours the New Zealand Dollar. All else equal that gap is a fundamental tailwind for the New Zealand Dollar against the Japanese Yen — though markets may already have priced much of it in.