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NZD/USD seen at 0.6200 by mid-year – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Strategist at Westpac Imre Speizer, the Kiwi dollar could test the 0.6200 mark by mid-2016.

    Key Quotes

    NZD/USD got a boost from RBNZ Governor Wheeler’s hawkish-sounding speech yesterday, and the strong labour data off set the impact of the dairy price fall”.

    “The resultant positive momentum should take NZD/USD into the 0.6700- 0.6800 area, with 0.6550 providing support during the week ahead”.

    “Further out, though, renewed US dollar strength plus a weak NZ inflation outlook should eventually require a lower OCR (we forecast 2.0% this year) which should drag NZD/ USD down to 0.62 by mid-year”.
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