The kiwi has fallen 13% since its peak in August, dropping below the 0.57 level. Subsequently, economists at Westpac have revised lower their forecast for the NZD/USD pair.
New Zealand dollar to lift against the USD in 2023
“We have lowered our forecast for the NZ dollar by year’s end from 0.63 to 0.58.”
“We still expect the New Zealand dollar to lift against the US dollar in 2023 but have lowered our forecast for the end of 2023 from 0.68 to 0.65.”
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