NZD/USD retains upward momentum for the week ahead, targeting a break above 0.70, economists at Westpac report. The kiwi is helped by the NZ commodity price outlook and the OCR outlook.

Multi-month, NZD/USD could reach the October high of 0.72

“NZD/USD retains upward momentum, targeting a break above 0.70 during the week ahead.”

“Multi-month, we target 0.72 – the October high.” 

“Expectations of the RBNZ meeting on 13 April are running high, with an 80% chance of a 50bp hike priced in.”