NZD/USD: As strong as an ox – ANZ

The Kiwi is still as strong as an ox, having almost reached 0.61 overnight. NZD/USD continues to benefit from the food exports story, but month-end flows could weigh on it on the day, analysts at ANZ Bank inform.

Key quotes

“NY Fed data suggest US GDP is down around 7% on Q4, and that will only intensify as lockdowns widen.” 

“New Zealand faces challenges too, but the food exporter thematic is helping sentiment.”

“Watch out for month end-selling as folks flock to cheaper US markets.”

“Support 0.5830 Resistance 0.6100”