Westpac with an updated view on the New Zealand dollar, in brief:
The recent run of economic data has been strong
- speculators are extremely short NZD
That should propel NZD/USD higher near term
- to the 0.6900-0.7150 area.
Multi-month, though, our expectation that the US dollar will continue to strengthen, as the Fed hikes four more times over the next year
- should see NZD/USD falling back towards 0.6500
