The New Zealand Dollar peaked and then fell to the Pound during the month of May.
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GBP/NZD extended its sell-off last week despite contrary data bringing into question the superiority of the Kiwi over the Pound.
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The Pound to New Zealand Dollar (Kiwi) stalled in its new downtrend midweek after Moody’s downgrade of China dimmed the outlook for New Zealand’s largest export destination.
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The New Zealand Dollar continues to outperform its rivals with the recent recovery rally getting fresh impetus from impressive economic developments in New Zealand over the duration of the mid-week…
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The backdrop of a softer USD and firmer commodities prices has supported commodity-linked currencies.
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The New Zealand Dollar or Kiwi as it is known is likely to be the passive partner in currency pairs for the foreseeable future, says analyst Honglin Jiang of investment bank Credit Suisse.
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The New Zealand Dollar has made marginal gains versus the Pound since last week, mostly due to a rise in the price of Dairy Products which constitute New Zealand’s primary export.
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