NZD/USD seen above 0.6800 by the year-end – Westpac

The New Zealand dollar has staged an impressive rally over the last seven days, that has pushed the pair to 20-month highs above 0.6800 and the Westpac FX analysis team expects to remain at these levels for the next weeks.

Key Quotes:

“The US election will be a key event for the USD, with a number of scenarios suggesting a positive reaction in asset markets (which would be USD-negative and NZD/USD positive).-

“Multi-month we expect risk sentiment to remain elevated into year-end, supported by an unprecedented global central bank and government stimulus, and the USD to remain in a downtrend. That should see NZD/USD above 0.68 by year-end. (28 October).”