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BNZ note that "the NZD is trading around $0.7130, having reached a high of $0.7315 early in the New Year. We remain bullish the NZD predicated on continued weakness in the USD and broad strength in commodity prices, amidst expectations for a broadly-based global economic recovery in 2021. Our year-end target is $0.76 although, as we pointed out in early December, a path to $0.80 is not particularly onerous."