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11 Aug 2014
NZD/USD to remain elevated in coming quarters - JPMorgan
FXStreet (Bali) - According to JP Morgan FX Strategists, the NZD/USD should remain elevated in coming quarters, forecasting a rate of 0.84 by year-end.
Key Quotes
"We have made some minor downward revisions to our NZD forecasts, but still expect the NZD to remain elevated in coming quarters given our expectation of 1) stabilisation in dairy prices and 2) a further 25bp rate hike from the RBNZ in 4Q14."
"We are comfortable with the view that the NZD has passed its peak for the cycle, but believe that declines from here will still be rather gradual. We forecast the NZD at 0.84 by Dec-14 and 0.81 by Jun-15."
Key Quotes
"We have made some minor downward revisions to our NZD forecasts, but still expect the NZD to remain elevated in coming quarters given our expectation of 1) stabilisation in dairy prices and 2) a further 25bp rate hike from the RBNZ in 4Q14."
"We are comfortable with the view that the NZD has passed its peak for the cycle, but believe that declines from here will still be rather gradual. We forecast the NZD at 0.84 by Dec-14 and 0.81 by Jun-15."