AUD/NZD: Credit Agricole bank buys pair as pre-EU referendum strategy

Credit Agricole maintains a long AUD/NZD position ahead of the British referendum vote.

"As it is the currency with the largest long positioning of the G10 and is highly sensitive to risk, the NZD will be impacted in the run-up to the referendum on the EU and its result.

We maintain a long AUD/NZD position. We believe that the high NZD long positioning should prevent a rally. Especially as positioning on the AUD appears to be globally balanced."