NZD/USD

Fundamentals favour the US Dollar by 10 points.

On the Macro Currency Strength Meter, the New Zealand Dollar scores +2 and the US Dollar scores +12 — a gap of 10 points in favour of the US Dollar. The widest divergence is in positioning, which favours the US Dollar. All else equal that gap is a fundamental tailwind for the US Dollar against the New Zealand Dollar — though markets may already have priced much of it in.