The NZD / USD fell to 0.7158 on Monday, down from 0.7184 (2020 closing level). The kiwi loses ground for the fourth session in a row. Economists at DBS bank expect the kiwi to slide towards the 0.7000 level in the coming months.
Key statements:
“Technically, the NZD / USD has been slowed at 0.72, but needs to clear its 0.7130 support (50 day moving average) before it can test 0.71 or January lows again“.
Ironically, the rally in the NZD stalled after expectations rose that inflation would approach the official 2% target by mid-year. The Reserve Bank of New Zealand may, at its meeting on February 24, rule out further rate cuts. “
“The Health Ministry is concerned that new European Union controls on COVID-19 vaccine exports could slow down New Zealand’s pandemic response.”
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