Fitch has raised their NZD forecasts citing effective containment of Covid-19, robust policy support, RBNZ

Fitch lifted its forecast for the NZD/USD, says its to average 74.34 US over the remainder of 2021

Further projections from the firm:

• Economic growth will likely pick up by 3.6% in 2021 ... which will encourage investment flows into NZ
• "We attribute the New Zealand dollar's robust uptrend in recent months to the country's strong economic recovery from the Covid-19 pandemic"
• "The country's effective containment of the domestic Covid-19 outbreak coupled with robust policy support saw economic activity remain resilient, and we expect this trend to continue over the coming months"
• "Monetary policy in New Zealand is looking likely to tighten earlier relative to the United States, and this will put appreciatory pressure on the New Zealand dollar"

Fitch also citing the high terms of trade, latest on this is here:

• New Zealand Terms of Trade for Q1 2021: +0.1% q/q (vs. expected -0.3%, prior +1.3%)