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Westpac: Commodity & RBNZ Outlook Leaves Focus On Upside


Westpac note that the cross is "boosted by improving global risk sentiment plus China's economic recovery (lifting iron ore), the AUD's outlook outshines the NZD's. Add to that a yield spread moving in AUD's favour, as the on-hold RBA contrasts with an increasingly dovish RBNZ. We target NZ$1.14 by year end."

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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