NZD/USD: Scope to rise further to the 0.7400 area - Westpac

According to Imre Speizer, Research Analyst at Westpac, NZD/USD has scope to rise further during the weeks ahead, to the 0.7400 area and the main source of support has been the depressed US dollar.

Key Quotes

“Other factors such as elevated and still rising global risk appetite have also played a part. And positioning has become even more short among speculators, to a record extent according to our normalised measure.”

“Medium-term, though, our view remains negative, resting largely on NZ-US interest rate spread shrinkage persisting over the year ahead. If that proves correct, we should see NZD/USD below 0.67 multi-month.”