New Zealand Dollar Nears 54.7 US-Cent 2020 Low as CPI Test and Election Uncertainty Loom
Updated
Updated · Bloomberg · Oct 19
New Zealand Dollar Nears 54.7 US-Cent 2020 Low as CPI Test and Election Uncertainty Loom
2 articles · Updated · Bloomberg · Oct 19
Summary
The New Zealand dollar has fallen for five straight quarters and is approaching its March 2020 trough of 54.7 US cents ahead of a key CPI report.
ACCM Prime and Gaitame.com Research Institute say the kiwi could slip below that pandemic-era low as slowing growth weakens the case for rapid interest-rate increases.
An election seen as too close to call is adding another source of pressure, leaving traders to weigh both inflation data and political uncertainty.
A break below 54.7 US cents would mark a fresh test of sentiment toward New Zealand assets after a prolonged currency slide.