New Zealand Dollar Forecast: The Flying Kiwi? - Setups for NZD/JPY, NZD/USD Advertisement New Zealand Dollar Outlook: NZD/USD rates have slipped below their pandemic uptrend, while NZD/JPY rates continue to point higher. According to the IG Client Sentiment Index, the New Zealand Dollar has a bullish bias in the near-term. New Zealand Dollar Churning The New Zealand Dollar is closing out the week on mixed footing, down versus four of the major currencies while gaining ground against three (incidentally, the three safe havens). While a risk-on environment has been historically beneficially for the New Zealand Dollar, and the recent change in the RBNZ’s remit makes its monetary posture more hawkish relatively speaking, the Kiwi seems to be plagued be a weakening economic environment in the near-term.