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Forecast for NZD/USD: who will trust in kiwi?
One of the main investment principles says: Buy cheap and sell high. The New Zealand dollar is the worst performer in the G10 group, but the country’s economy can’t be called “a disaster.” So, the obvious question is whether the NZ dollar is cheap. If it is, traders have an excellent opportunity to buy the underestimated asset. Until recently, the whole world would envy New Zealand: there hadn’t been any new Covid cases for 102 days. Unfortunately, the pandemic is back, and Jacinda Ardern’s government had to lock down Auckland until 30th August. Westpac estimates that the largest city’s lockdown cuts ... (full story)