AUD/NZD sits on a 185bp RBA-RBNZ policy gap that has already peaked. Base case is 1.16 by December 31, 2026 as the RBNZ hikes toward its 3.00% neutral rate.
Deluxe closed its $625m Celero Commerce deal at roughly 11x EBITDA, richer than Worldpay's 8.5x. What that says about B2B payments consolidation in 2026.