ANZ Recommends Buying Kiwi Put Option

        0054 GMT [Dow Jones] The outlook for the New Zealand domestic economy remains extremely solid and shows no signs of slowing, ANZ says. But growth expectations look mature and it is hard to envisage further domestic improvements, the bank says. ANZ also notes markets have remained remarkably complacent about global risks--such as the Chinese economic rebalancing, policy event risks such as the ECB embarking on quantitative easing and European political elections, and global flash points such as events in the Ukraine. ANZ thinks it is prudent to buy protection when others see no need for it. The bank recommends buying a 0.87 strike NZD/USD 3-month at-the-money put option. Spot NZD/USD is at 0.8701. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        May 06, 2014 20:54 ET (00:54 GMT)