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Westpac Bank strategists said the currency would resume its climb, potentially breaking above 71 cents again soon, then adding 3 cents in the first half of next year.
“Improved market sentiment has also lifted the New Zealand dollar. In fact, the New Zealand dollar has a head of steam up and we expect that this momentum will see the NZ dollar/US dollar crossrate hitting 74 US cents by the middle of next year,” Westpac economists said in a note.
Kiwibank’s Peter Hunt said he expects the kiwi to be at 77 US cents by the end of 2021.
If so that would have some very positive implications for importers like HLG and of course make it very tough for exporters.