NZD/USD stays on the back foot and declines toward 0.6200. Nevertheless, economists at ING expect the pair to bounce back higher toward the 0.67-68 zone in the second half of the year.

NZD strength relies on external factors

“Our bullish view on NZD/USD for the remainder of the year is primarily a function of global factors: improved risk sentiment, positive exposure to the China reopening story, a benign USD decline.” 

“We target 0.67-0.68 in the second half of 2023.”

See: NZD/USD to advance nicely over the course of the year – ANZ