NZD/USD's Rally May Have Further to Run -- Market Talk

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NZD/USD's Rally May Have Further to Run -- Market Talk

Dow Jones05-27

2220 GMT - The NZD/USD took a breather last week, consolidating in the low 0.61s, but it may only be a matter of time before the cross appreciates once more. "There remains potential for another leg higher to 0.62," says Westpac. "The RBNZ's hawkish shift last week is supportive (via NZ-US yield spreads), while U.S. data this week will be important." In particular, PCE inflation is expected to soften slightly. Westpac adds that NZD/USD could exceed 0.62 in the September quarter if market pricing for Fed and RBNZ rate cuts move in line with its own expectations. NZD/USD is at 0.6125 early on Monday.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 26, 2024 18:20 ET (22:20 GMT)

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