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NZD: Continue to See a Downward Bias as the Year Progresses - BNZ
Research Team at BNZ, suggests that the weaker fundamentals for the AUD
have helped drive the NZD down over the past couple of weeks.
Key Quotes
“A mild recovery in the USD after being hammered through March-April has
been an additional factor in driving NZD/USD down 3 cents off its
recent high around 0.7055.
We continue to see a downward bias for the NZD as the year progresses,
helped by further RBA and RBNZ easing, in a world where other central
banks have approached their limits for further policy easing. Another US
Fed rate hike is expected to come into play later in the year, adding
to a downward NZD/USD bias.”