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ANZ Flag Downside Risks To ’22 Outlook

NZD

ANZ note that “FX market sentiment towards the prospect of policy rate hikes appears to have evolved. High interest rate currencies (and those whose central banks are signalling the need to hike further) are no longer being automatically rewarded by FX markets, which are becoming pickier. FX markets seem fatigued with the New Zealand “good news” story, and are instead looking to downside risks as we head into 2022. These risks could challenge our published forecasts calling for NZD/USD to level off at $0.72 in 2022.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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