NZD/USD still targets 0.62 by March – Westpac

By FXStreet FXStreet (Edinburgh) – Strategist Imre Speizer at Westpac expects the Kiwi dollar to depreciate further vs. the dollar, targeting the 0.62 area by March 2016.

Key Quotes

“NZD/USD reached our 0.68 target last week, and is likely to retest that level during the week ahead”.

“The RBNZ MPS today gave mixed messages regarding guidance, such that NZD/USD jumped 1c in response, despite the 25bp cut”.

“The NZ GDP release next week is likely to support further gains, and there are signs a Fed hike is fully priced and thus unlikely to stem this NZD/USD rally”.

“We target the 0.68-0.69 area during the week ahead, but remain of the view the RBNZ will be forced to cut the OCR further to achieve its inflation target. We target 0.62 by March”.
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Source:: FX Street