NZD/USD to advance nicely towards 0.69 by year-end – ANZ

The NZ dollar has weakened a little as central banks in other regions start to tighten monetary conditions. However, the kiwi is assumed to appreciate steadily to reach 0.69 by the end of 2022, economists at ANZ Bank report.

NZD still expected to strengthen as the year progresses

“The Reserve Bank of Australia increased its cash rate by 25bp to 0.35%, while the US Federal Reserve lifted its cash rate 50bp as expected. These central bank movements have weighed a little on the NZD, but our currency is still expected to strengthen as the year progresses.” 

“By the end of the 2022 calendar year, we anticipate the NZD/USD will reach 0.69.”