NZD/USD seen above 0.70 by year-end – Westpac

The New Zealand dollar is going through an impressive rally against the US dollar and according to the Westpac FX analysis team, is likely to remain bid over the next weeks, as they see the pair ending the year above the 0.7000 level.

Key quotes

“Multi-month we expect risk sentiment to remain elevated into year-end, supported by an unprecedented global central bank and government stimulus, and the USD to remain in a downtrend.”

“the NZ economy’s performance since Covid has been impressive, providing fundamental support for NZD outperformance. NZD/USD targets 0.70+ by year-end.“