The NZD/USD pair broke above 0.73170 on Monday, extending its upward momentum to levels not seen since April of 2018 as money continued to flow into riskier currencies amid prospects of a robust global economic recovery. On top of that, positive New Zealand economic data along with the rollout of a COVID-19 vaccine lent further optimism to the NZD bulls. Investors now await the Reserve Bank of New Zealand Monetary Policy Statement on Wednesday 24th. .
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 February of 2021.
The New Zealand Dollar is expected to trade at 0.73 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.71 in 12 months time.