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Oct 06 - 02:55 PM

NZD: Unlikely To Make A Return To The 0.60s In 2022; Higher AUD/NZD Through 1.16 By Year-End - BofA

By eFXdata  —  Oct 06 - 01:30 PM

Bank of America Global Research discusses its bias on NZD and targets NZD/USD at 0.56 and AUD/NZD at 1.16 by year-end. 

"We revise down our end-2022 forecast for NZD/USD to 0.56 (previously 0.65) with recent developments making a return to the 0.60s unlikely in 2022. Poor global economic and financial conditions suggest a move below our year-end forecast is likely in the near term," BofA notes. 

"We continue to expect NZD to underperform AUD, the latter better poised to benefit from China’s easing in commodity-intensive sectors,"BofA adds. 

BofA Global Research


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