MUFG on the New Zealand dollar, looking for the range to skew higher ahead
- yield-differential model suggests the kiwi is currently undervalued against the US dollar
- suggesting some upside pressure in future
- With US dollar strength seen to be peaking over the coming quarters, the kiwi should gradually strengthen further out
Their forecasts:
- Q4 range of 0.61 - 0.66
- Into 0.62 / 0.67 next year
