Fall of the New Zealand dollar may resume
The price of the New Zealand dollar showed moderate growth yesterday, despite a sharp fall in the US dollar after the publication of the ECB on monetary policy. As a result of weaker measures to stimulate price inflation in the euro area the world's major currencies went higher against the US dollar, but the effect according to our forecast is temporary, that soon will negatively influence the price of New Zealand currency. It is worth noting that the recent rise in prices for dairy products could be offset by a reduction in interest rates by the Reserve Bank of New Zealand next week. The possibility to reduce the rates is due to the weak inflation of about 0.4%. We expect the price drop the New Zealand dollar in the medium term to the 0.6250 and 0.6000, despite the recent growth.
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