The New Zealand dollar traded around $0.70 in late September, the weakest since the end of August, as commodity-sensitive currencies have been hit as Beijing stepped up measures to cut steel production on environmental concerns. On the monetary policy front, the Reserve Bank of New Zealand is expected to tighten policy in October due to stronger than expected GDP data and decreasing COVID-19 infection numbers in Auckland.
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 September of 2021.
The New Zealand Dollar is expected to trade at 0.70 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.68 in 12 months time.