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New Zealand’s Dollar Is on Brink of Longest-Ever Losing Streak
The New Zealand dollar looks poised to suffer a record losing streak. The currency fell for 10 consecutive days through Monday, a stretch of declines not seen since March 2020. An 11-day drop would be the most prolonged in its history, according to trading data as far back as the 1970s. The nation’s currency has been pressured by a central bank decision to hold interest rates unchanged for a second straight meeting even as policymakers elsewhere weigh further hikes. Traders are also worried about the impact of an economic slowdown in China, New Zealand’s biggest trading partner. The New Zealand dollar has ... (full story)