The New Zealand Dollar struggled for traction against the US Dollar and Pound on Thursday but could perform better in the week ahead as the market rethinks the outlook for Kiwi interest rates, according to ANZ Research.
The New Zealand dollar rallied strongly on Wednesday, driving GBP/NZD back to one-month lows and some key support levels on the charts, following a better-than-expected second quarter labour market report.
The Pound to New Zealand dollar exchange rate has receded from post-pandemic highs but the author’s model suggests it should remain supported above 2.14, and that it could have scope to rise back above 1.16 up ahead.
The New Zealand Dollar's selloff has gone far enough, say strategists at HSBC, who close a sell recommendation.