NZD/USD to see a gradual appreciation over 2024 – ANZ

Kiwi is back on struggle street after more strong US data, which is giving the US Dollar (USD) a boost. Economists at ANZ Bank analyze the NZD/USD outlook.

Expect volatility

The Kiwi has struggled in the face of a US Dollar rebound, but with a similar re-pricing underway locally (as markets stick to pricing in cuts, but later), it’s difficult to be overly bearish at current levels. 

Data is likely to drive further volatility, but we continue to expect a gradual appreciation over 2024.