NZD/USD has come a long way since it bottomed out just above 0.55 in mid-October. Economists at ANZ Bank expect to see further moderate NZD/USD strength over 2023.

Further NZD strength expected in 2023

“Looking ahead, we expect to see further moderate NZD/USD strength over 2023, and we have recently upgraded our forecasts accordingly. As with the past four months, this is expected to occur via a combination of both NZD strength and USD weakness.” 

“AUD strength is also expected to be a driver, but logically, that also poses downside risks to NZD/AUD, and that was a factor in our downgraded forecasts for that cross.”

“NZD/USD 0.640 Mar-23 0.650 Jun-23 0.660 Sep-23 0.660 Dec-23 0.670 Mar-24 0.670 Jun-24”