NZD/USD to Target 0.6500 in Q3 - Westpac
Imre Speizer, Research Analyst at Westpac, notes that the NZD/USD
retains negative momentum, targeting sub-0.6700 during the week ahead.
Key Quotes
“That is mainly a story of markets repricing the Fed, particularly
following the hawkish FOMC minutes. Markets have also repriced the RBNZ
in a hawkish direction, such that a June cut is now seen as only a 40%
chance. Should the RBNZ cut on 9 June, as we expect, markets will be
surprised and NZD/USD should fall. We continue to target 0.6500 in Q3
assuming the RBNZ and Fed diverge as we expect.”
