NZD still rated very highly - Westpac

Analysts at Westpac explained that the NZD remains their highest conviction currency again this week though that is mostly driven by our model which continues to rate NZD very highly.

Key Quotes:

"Our technical and macro rating is more cautious - solid domestic growth momentum and firmer dairy prices (+19.8% for wholemilk at this week’s auction) argue for a constructive NZD tone but the RBNZ meeting next week and rising Trump election risk warrant near term caution. Our overall NZD score (+3) is not strong enough in any case to warrant a buy on dips (a score of least +5)."