NZ dollar takes flight as markets forecast rate cuts abroad

Kiwi not quite flying high. (Image: Getty)

Wed, 05 Jun 2024

The New Zealand dollar is hovering around a three-month high against the US dollar as investors bet on the US Federal Reserve cutting rates before the end of the year.The kiwi was trading at 61.91 US cents late Tuesday in Wellington after gaining around 4.5% in May.Following the strong recovery, “we look for some consolidation over the short-term and remain positive on a medium-term view”, said BNZ senior markets strategist Jason Wong.Wong said BNZ’s short-term fair value model estimate remains around the 67 US cents mark, &ld...

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