New Zealand dollar rip continues for third day
NZD/USD is today's top performer
The New Zealand dollar managed to break the March, December and October highs in a single, powerful move today.
In percentage terms, the kiwi is easily the top performer today and was yesterday as well. The takeaway is that despite RBNZ jawboning and the recent surprise rate cut, it's still the top yielder.
No one wants a strong currency but if the overall risk environment is good, the New Zealand dollar is the best of a bad bunch. It was also given life by a great housing starts report at the start of Asia-Pacific trading Wednesday.
Technically, what's not to like?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Other Topics
ForExLatest Markets Videos
Explore Markets
ExploreMost Popular
- Social Security Checks Could Soar in 2023: Here's How Much Extra Seniors Might Receive
- Better Buy: Dogecoin vs. Terra Classic vs. Terra (LUNA)?
- Stimulus Update: MIllions Will Get a Stimulus Check in June. Are You One of Them?
- Bitcoin Uses 50 Times Less Energy Than Traditional Banking, New Study Shows