The New Zealand Dollar (NZD) could trade in a choppy manner between 0.5965 and 0.6015. In the longer run, weakness in NZD from early last month has ended; it is likely to trade in a 0.5940/0.6040 range for now, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
Weakness in NZD from early last month ends
24-HOUR VIEW: “Last Friday, we expected NZD to trade in a range between 0.5950 and 0.5990. NZD then traded in a 0.5960/0.5999 range. It closed at 0.5962 but rose above 0.6000 in early Sydney trade today. The volatile price action has resulted in a mixed outlook. Today, NZD could continue to trade in a choppy manner, probably between 0.5965 and 0.6015.”
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