(Bloomberg) -- New Zealand's dollar is ``massively overvalued'' and will fall 7 percent against the yen in six months, said Stephen Koukoulas, chief Asia-Pacific strategist at TD Securities Ltd.
Strength in the currency, which traded at a 17-year high versus the yen last week, will help cap inflation and see the central bank keep interest rates unchanged tomorrow, Koukoulas said in an interview. The New Zealand dollar is the top performer among the 16 most-actively traded currencies in the past month as the 7.50 percent benchmark rate draws funds from overseas.
Read more at Bloomberg Currencies News
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