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- NZD/USD to extend the rise beyond 0.6620 – Westpac
NZD/USD to extend the rise beyond 0.6620 – Westpac
FXStreet reports that economists at Westpac have a slightly positive bias due to clear election result and see potential for NZD/USD gains beyond 0.6620.
“NZD/USD has so far shown a very modest +15 pip reaction to the landslide win by Labour in the NZ general election. Perhaps that is due to pre-election polls which indicated Labour was well ahead of National, which means a comfortable Labour win was already priced into the NZD. In addition, Labour did not campaign on any major new policies.”
“There’s potential for further modest gains during the day ahead, beyond 0.6620. The multi-month outlook remains positive, with potential to rise towards 0.6800 – the top of a multi-month range.”
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