NZD has slipped 7.5% since its july peak of .6394 and the doom and gloom news is also reflected in the NZ employment confidence slipping in the Westpac-MM survey.
At the same time, in the same period, the Baltic Dry Index has been substantially improving. JP Morgan has even upgraded China growth on the back of recent industrial profits improvements.

As realization dawns on Kiwi trading desks and commentators, we should begin reverting to the mean. This will need the election outcome to be sure, but testing .61 before election is now quite possible.