NZD/USD extends its upside for the second consecutive day, which could be attributed to the improved risk sentiment following the dovish sentiment surrounding the Federal Reserve’s (Fed) policy outlook.
NZD/USD gains ground due to risk-on sentiment amid dovish Fedspeak. Minneapolis Fed President Kashkari anticipates additional rate cuts in 2024, although expects them to be smaller than previous reductions. The New Zealand Dollar found support from a range of stimulus measures implemented by its close trading partner, China.
New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar , also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner.
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