Core Viewpoint - The New Zealand dollar is set to become the first major developed market currency to erase its gains from early 2023 by 2025, primarily due to aggressive interest rate cuts by the Reserve Bank of New Zealand amid a weak economic backdrop [1] Group 1: Currency Performance - The New Zealand dollar is the worst-performing currency among G10 currencies in 2025, with its appreciation against the US dollar shrinking from over 9% to nearly 1% [1] - The currency has faced pressure due to rising unemployment and the economy nearing its second recession in two years [1] Group 2: Monetary Policy - Since July of the previous year, the Reserve Bank of New Zealand has reduced the official cash rate by three percentage points [1] - Traders anticipate two more rate cuts by mid-2026 [1] Group 3: Market Sentiment - According to Westpac Banking Corporation strategist Imre Speizer, the risks for the New Zealand dollar remain skewed to the downside [1] - Upcoming data releases, including retail spending and inflation expectations, are expected to influence market sentiment, which has led to a slight downward adjustment in the pricing of the official cash rate [1]
新西兰元即将抹去年内全部涨幅 新西兰经济持续疲软
Xin Hua Cai Jing·2025-11-10 23:27