The kiwi dollar is falling prey to the bears

The New Zealand dollar is the second-worst-performing G10 currency of 2024. (Image: Depositphotos)

Fri, 26 Jul 2024

The New Zealand dollar continues to decline, solidifying its position as the second-worst-performing major currency this year.It was trading at 59.16 US cents late Thursday in Wellington and has shed nearly 6.5% against the US dollar since the beginning of the year. By early Friday it had dipped below 59.00 and was trading at 58.93.BearsIt is falling thanks to the “unceasing advance of the bears”, according to Brett Ottawa at OFX. “The NZD is under noticeable pressure, with factors such as growing expecta...

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