FastSaying

This hasn't changed our view that the New Zealand dollar is in a serial decline. The currency is on a depreciation cycle, regardless of whether interest rates go down or not.

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New Zealand is one quarter away from recession. The New Zealand dollar is firmly embedded in a long-term decline.
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The New Zealand dollar continues to be hampered by the recent swag of weak economic data. We suspect the currency will continue to come under pressure.
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The Australian dollar is being marked down by association with the New Zealand dollar.
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