MUFG sees the long AUD/NZD trade as attractive due to diverging monetary policies between the RBA and RBNZ. The AUD has outperformed the NZD over the past month, driven by speculation of RBA policy shifts, while the RBNZ is expected to remain on hold.Key Points:Performance Divergence: AUD has been the best performing G10 currency (+1.3% vs. USD) over the past month, while NZD has been the second worst (-1.2% vs. USD).RBA Speculation: The AUD's strength is driven by speculation that the RBA will diverge from other G10 central banks, potentially raising rates.RBNZ Hold: The RBNZ is expected to remain on hold after delaying rate cuts to the second half of next year, despite indicating potential
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