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- NZD/USD could drop towards 0.6100 over three months – Rabobank
NZD/USD could drop towards 0.6100 over three months – Rabobank
Analysts at Rabobank lean bearish on the NZD/USD pair in the short to medium term, predicting the US dollar to continue drawing safe-haven demand.
Key quotes
“FX volatility has been heightened in recent months and we expect this to continue. “
“We expect the USD to remain well bid on the back of safe haven demand despite speculation that the market may have over-estimated the extent of Fed policy tightening in the coming months.”
“In our view, USD strength is likely to push NZD/USD back towards its recent lows in the 0.61 area on a 1-to-3-month view.”
“We expect USD strength to turn around on a 6-month view allowing NZD/USD to recover to the 0.64 region.”
“We see scope for AUD/NZD to trend higher to 1.12 in the coming months.”
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