NZD/USD: Targeting 0.58 – Westpac

NZD/USD is starting roll over again, as risk sentiment sours, economists at Westpac Institutional Bank apprise.

Key quotes

“We expect NZD/USD to fall over the next month or two as economic data reveals the scale of economic damage, noting that NZ’s lockdown was arguably the most severe in the world. We target 0.58.” 

“NZ’s recovery could also be quicker than some other countries, such as the US. If so, the NZD should start to outperform the USD by year-end.”