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Further NZD/USD weakness seen in the medium-term - BNZ

FXStreet (Łódź) - Raiko Shareef, Currency Strategist at BNZ points out that NZD/USD fell by 5% over the last month and expects the weakness to continue in the medium term.

Key quotes

"The NZD/USD has plunged 5% in the past month, with RBNZ intervention talk (and action) coinciding with the broader USD upswing."

"Thanks to these tailwinds, we hit our bearish and below-market end-2014 target of 0.80 well before time."

"As a result, we have marked our year-end target lower to 0.78, while keeping our end-2015 target unchanged at 0.73."

"That remains an aggressively bearish view, relative to the rest of the market."

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