The New Zealand Dollar gained 0.00134 points or 0.19% to 0.71876 on Tuesday, extending monthly highs as sentiment for the Kiwi was boosted after the two-way quarantine-free travel bubble between New Zealand and Australia commenced Monday, while the Greenback extended its retreat to 7-week lows. Local 10-year bond yields eased to 3-week lows of 1.615% while US 10-year rates were at 1.6%. In recent local data, the BusinessNZ Performance of Services Index increased to 52.4 in March, the highest reading since July of 2020, while the Performance of Manufacturing Index jumped to a record 63.6 last week, the highest monthly result since the survey began in 2002.
Historically, the New Zealand Dollar reached an all time high of 1.49 in October of 1973. New Zealand Dollar - data, forecasts, historical chart - was last updated on April of 2021.
The New Zealand Dollar is expected to trade at 0.71 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.70 in 12 months time.