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Westpac Remain Bullish Over Long Run, Near-Term Risks Mixed

AUDNZD

Westpac note that "near-term risks are mixed. Major negatives are the contrasting RBA vs. RBNZ stances, and trade and political tensions between Australia and China. The main positive is the surge in hard commodity prices this year. Longer term, we remain bullish, targeting NZ$1.10+ by year end. Elevated global risk sentiment amid vaccine deployment and stronger global commodity prices should see the AUD outperform the NZD."

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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