ANZ like the kiwi, no longer looking for a significant fall in the months ahead.
- We now anticipate the NZD/USD pair will maintain a value of near 0.65 through into 2021.
ANZ citing:
- has found more support in the current market environment than we were anticipating
- Partly it reflects the good news that we beat back Covid-19 and so are in a better position than most
- but it is not good news for farmers as overseas returns are eroded by a stronger NZD in farmgate terms
