FXStreet reports that economists at ANZ Bank expect the kiwi to struggle to see further gains as the economy stalls.
“Stronger US jobs data did little to alter market participants’ view that the Fed is likely to remain patient (will not rush to raise rates), and that weighed on the USD.”
“We have sympathy with the view that the best is behind us insofar as NZ data surprises go, and the Delta situation will clearly get worse before it gets better. That may not drive the NZD lower, at least while the RBNZ is hiking, but it may cap its topside potential.”