NZD A Promising Start

UBS maintains an attractive outlook on the New Zealand Dollar, citing robust domestic economic growth and expectations for continued RBNZ rate hikes. Despite lower short-term currency targets due to US dollar strength, they recommend unhedged NZD exposure.

Key Takeaways

• 1.We retain an Attractive view on the NZD, supported by improving domestic growth dynamics and hikes by the RBNZ.
• 2.Near-term USD strength has tempered our NZD forecasts, leading us to lower our NZDUSD targets.
• 3.We see value in selling NZDUSD downside below 0.574 to enhance portfolio yield.

Table of Contents

• NZD: A promising start
• CIO View: NZDUSD
• Risk information
• Important Information About Sustainable Investing Strategies
• External Asset Managers / External Financial Consultants
• USA

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