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NZD/USD still targets 0.62 by March – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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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