The NZD/USD was one of the strongest performersfollowing the US payrolls release. It ended the week at0.8600.There was not too much pulse in the NZD ahead of Fridaynight’s US payrolls data. After the event (see Majors), thekiwi burst higher along with its Trans-Tasman peer.Consequently the NZD/AUD was fairly range-bound,ending the week around 0.9260. Our forecasts see theNZD/AUD trading broadly in a 0.9200-0.9400 rangethrough this year, whilst we recognise this is a little above‘fair value’.
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