eFXdata reports that Credit Suisse discusses NZD outlook.

"Markets expect the RBNZ to hike faster and more aggressively than the RBA: while we don’t disagree with the view in the medium-term, we see a risk that the RBNZ rate decision on 25 May might trigger a near-term downgrade in RBNZ tightening expectations, and a spike in AUDNZD. As we’ve favoured selling spikes in AUDNZD, we recommend a 3m expiry AUDNZD put struck at 1.0650 with a knock-in barrier at 1.0820 as a way to leverage near-term disappointment risks in order to gain exposure to AUDNZD downside from a more attractive level," Credit Suisse adds.