NZD/USD: Some upside is in store in the year ahead – ANZ

NZD/USD has traded a wide range this year from a high above 0.65 to a low below 0.58 and stabilising at a mid-point in December. Economists at ANZ Bank analyze Kiwi’s outlook.

Kiwi has room to rise in 2024, but not without volatility

We think the NZD has room to rise in 2024, but not without volatility. Our year-end forecast for NZD/USD is 0.63 in 2024.

A global return of risk appetite and the NZD’s high carry advantage will drive the upside we expect into 2024. Our bearish USD view and a positive cyclical outlook bode well for high beta currencies like NZD.