The New Zealand Dollar (NZD) returned lower off 0.5900 levels midweek against the US Dollar (USD) dropping back to 0.5860 into early Friday. The kiwi struggling post US Election results as the currency hovers around long term lows. Drops through support at 0.5770 and the 2022 low at 0.5500 now comes into the picture. A run through 0.5500 which could only be 1 RBNZ cut away (next week) and it’s a freefall into the abyss. US Manufacturing early tomorrow is predicted to come in solid.
The current interbank midrate is: NZDUSD 0.5854
The interbank range this week has been: NZDUSD 0.5835- 0.5921