This via Westpac on the New Zealand dollar ahead:
- Potential for further weakness during the month ahead below 0.6400, with the USD retaining potential for further gains.
- The Fed quashed talk of 75bp hikes, but does expect two more 50bp hikes and then 25bp moves in a path to neutral or beyond, and that should be USD supportive near term.
- In H2 though, the Fed story should be fully priced, and commodities will again dominate, pushing the NZD above 0.7000.
Weekly NZD/USD candles:
