The Q4 forecast for the NZD/USD currency pair has been revised downwards to 0.56 according to CIBC. The current rate for NZD/USD is 0.59044.

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NZDUSD Chart by TradingView

NZD, like other commodity currencies, was hit in August given the weak backdrop in risk markets. Economists at CIBC Capital Markets analyze Kiwi’s outlook.

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