NZD/USD: Steady into year-end and then a gradual climb in 2024 – ANZ

Market news

9 November 2023

NZD/USD: Steady into year-end and then a gradual climb in 2024 – ANZ

Economists at ANZ Bank expect NZD/USD to appreciate gradually.

Long-term fair value at 0.63

Our currency forecasts have the NZD/USD holding steady until the end of the year, and then gradually appreciating to 0.63 by the end of next year.

Our expectation for mild strength over 2024 remains guided by our fair value analysis, which puts long-term fair value at 0.63, and is further supported by our expectation of another OCR hike.

See: EUR/AUD to drop back to 1.59, AUD/NZD to edge towards 1.12 in a six-month view – Rabobank

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