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NZD/USD targets 0.8200 – Westpac

FXStreet (Edinburgh) - Analysts at Westpac Global Strategy Group still see the pair heading towards 0.8200.

Key Quotes

“The two month old decline in NZD/USD remains intact, targeting the 0.8200 area next”.

“We suspect that even if the RBNZ MPS on Thu is a hawkish surprise to the interest rate markets, the NZD will remain downtrodden”.

“NZ economic momentum has certainly slowed and markets will remain skeptical the RBNZ will deliver the OCR increases which have been projected”.

“Conversely, the US dollar continues to strengthen. By year end, we would expect to see NZD/USD in the 0.80-0.82 area”.

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