Imre Speizer, analyst at Westpac explained that the Federal Reserve downgraded its interest rate projections last week, hurting the US dollar and thus boosting NZD/USD and offered a three-month outlook. Key Quotes: "We expect NZD/USD to fall towards 0.64 by mid-2016, due to a combination of a lower OCR and a higher US interest rates. In addition, NZ commodity prices are expected to remain soft. We see the main risk to this view as being a failure of the US dollar to strengthen." For more information, read our latest forex news.