NZD/USD is breaking down amid persistent Fed tapering expectations.Last Friday’s break below the key 0.8200 area has been sustained, pointing to a further decline to around 0.7900 during the weeks ahead. While NZ economic news remains upbeat, market expectations of the Federal Reserve’s policy actions continue to dominate.By early 2014, though, strong NZ fundamentals and RBNZ tightening should dominate, taking NZD/USD towards 0.8600.
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Westpac