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NZD to continue charging higher.
Key highlights
The USD has been soft against most global currencies recently. We believe there has been a structural shift in the USD and as a result, the NZD will strengthen to US$0.85 over coming months.
The higher NZD will impact on some farming sectors, with the beef industry likely to be most affected.
We have reviewed the recent Reserve Bank of New Zealand article on global commity prices and have provided a summary within this month's report.
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