NZD/USD seen back towards its recent lows in the 0.61 area on a 1 to 3 month view – Rabobank – by MSalordFX NZDUSD Banks Currencies
moving back to the 0.61 area in the short-term and then moving toward 0.64. for the NZD in the coming months is likely to influenced by what the RBNZ may have got right. Since the RBNZ was quick to tighten policy relative to its peers, it may reach peak interest rates ahead of other central banks. This could have negative implications for the NZD vs some of its peers.”
“FX volatility has been heightened in recent months and we expect this to continue. We expect the USD to remain well bid on the back of safe haven demand despite speculation that the market may have over-estimated the extent of Fed policy tightening in the coming months. In our view, USD strength is likely to push NZD/USD back towards its recent lows in the 0,61 area on a 1 to 3 month view. We expect USD strength to turn around on a 6 month view allowing NZD/USD to recover to the 0.64 region.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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