WELLINGTON: The New Zealand Dollar (currency: NZD) has been the worst-performing of the sixteen most actively traded global currencies during today’s session. The British pound continued to hit new monthly best conversion levels against the New Zealand dollar on Friday as demand for risk-correlated currencies continued to trail lower. While markets went back on some of the week’s most bullish Trump trends, leaving the Pound slightly weaker, commodity and trade-correlated currencies like the New Zealand Dollar continued to suffer from the prospect of an anti-trade USA.
While market sentiment remains generally volatile the New Zealand Dollar has been weighed down, with the higher-yielding currency struggling to find support amidst uncertainty over the priorities of Trump’s presidency. Even though the Reserve Bank of New Zealand (RBNZ) looks set to maintain a neutral policy bias for the foreseeable future this has failed to entice investors to buy back into the ‘Kiwi’ at this juncture.
