NZD/USD: Next upside target aligns at 0.6925, the 0.6955 – Westpac

The kiwi ended the week a touch above 0.69, having held gains. Next upside target is 0.6925, economists at Westpac report.

NZD/USD targets 0.71+ by year-end

“Next upside target remains 0.6925, and beyond that 0.6955.”

“Risk sentiment has improved further, despite mixed reports from Ukraine/Russia, and commodity prices have risen further.”

“Longer-term, we target 0.7100+ by year end.”

“The RBNZ clearly has more work to do to claw back inflation expectations, and NZ commodity prices should remain supportive.”