NZD does not really stand out against its peers – ANZ

Market news

28 July 2023

NZD does not really stand out against its peers – ANZ

The Kiwi has had a volatile week, having generally bounced around on the whims of USD moves. Economists at ANZ Bank analyze NZD outlook.

Kiwi to reach 0.63 by year-end

With the RBNZ and RBA both on hold and the US Fed Funds rate now on a par with the OCR, the NZD doesn’t really stand out against its peers.

Higher bond yields are supportive, but going the other way we have New Zealand’s twin deficits, which have a feel of persistence about them.

Our forecasts continue to call for the Kiwi to reach 0.63 by year-end; that’s not far from current levels, partly reflecting improved prospects for the USD and the generally resilient US economy.

USD Index extends the weekly advance and targets 102.00 ahead of key data

Pound Sterling enters bearish trajectory as focus shifts to central bank policy

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