New Zealand Dollar Drops 5.8% in June as Iran War Energy Shock Lifts Greenback
Updated
Updated · Bloomberg · Jun 28
New Zealand Dollar Drops 5.8% in June as Iran War Energy Shock Lifts Greenback
1 articles · Updated · Bloomberg · Jun 28
Summary
The kiwi slid to 56.41 US cents after falling about 5.8% in June, putting it on course for its steepest monthly decline since 2024.
Westpac and ABN Amro see more weakness in the third quarter as a stronger US dollar and the lingering energy shock from the Iran war weigh on New Zealand's recovery.
Westpac expects the currency to hit 55 US cents by end-July, while ABN Amro forecasts a drop below the November low of about 55.8 cents.
The outlook points to a subdued third quarter for New Zealand's currency as external pressure from the greenback compounds domestic growth headwinds.