Here's a sub-60 US cent NZ dollar forecast

Kiwibank expect another hefty rate cut from the Reserve Bank of New Zealand:

• NZD traders - take note of the poor NZIER data - prompts another bank to slash its RBNZ cash rate forecast

Kiwibank continue to forecast the NZD to 0.58 (3 to 6 month time horizon)

• currency has remained under downward pressure
• Short-term, it can go anywhere, on good or bad news
• But over the next 3-to-6 months we continue to forecast a volatile descent in the bird to 58c. Not far now.