More via NAB, I posted on their AUD outlook earlier:

Projections for NZD/USD:

  • 0.68 by year end (prior 0.66)
  • 0.70 by June 2021 (0.68)
  • 0.73 by June 2022 (0.71) & to top out there

NZD to underperform vs. AUD

  • NZ international travel restrictions likely to remain in place for an extended period,
  • NZ has greater exposure to global tourism compared with the case for Australia

NZ September election could prompt NZD volatility, downside more vulnerable than upside

  • Labour return to office, further move towards left-leaning policies looks the most likely outcome