fxstreet.com 16 Feb, 2021 08:30 am

NZD/USD to fly towards 0.78 over the next months – Westpac

NZD/USD to fly towards 0.78 over the next months – Westpac
The kiwi has found its wings in recent months, rising to a two-year high on a trade-weighted basis early in January. Over the coming year, economists

Over the coming year, economists at Westpac expect that the New Zealand dollar will gain further altitude relative to the US dollar and other major currencies.Even so, we still expect that New Zealand will outperform others on the global stage.Against that backdrop, we see ample scope for the New Zealand dollar to push higher over the next few months and have pencilled in a peak of 0.” “The New Zealand economy’s creditable performance will see the New Zealand dollar strengthening relative to both sterling and the euro over the course of 2021.

” “We expect the New Zealand dollar will hold firm against the Aussie over the coming years, trading around 92 to 94 cents.Economic conditions across the ditch have improved by more than expected, and prices for Australia’s commodity exports have actually risen by more than those produced in New Zealand.

Read full story at fxstreet.com