NZD jumps 2.5% against the greenback as US inflation looks tamer

(Image: Getty)

Wed, 15 Nov 2023

A sharp upward reversal in the New Zealand dollar has rekindled a near-term bullish outlook, said Westpac Bank.The kiwi last traded at 60.22 US cents. It has jumped around 2.5% so far this week.Senior strategic Imre Speizer said a sustained break above 60.00 US cents would target 61.00.Not only that, but he said: “Further ahead in 2024, we expect to see at least 62.00 if the US dollar weakens in line with diminishing US economic out-performance".Softer backdropSpeizer noted that last night's softer US CPI data caused an outsized...

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