I have one question that has been burning inside of me ever since I looked into currency trading.
Can two different currency pairs featuring a common currency move in opposite direction of each other? For instance, can the NZD/USD go down while the NZD/JPY goes up?
It seems to me that currency pair movements are linked in many different fashions, but it also seems logical that a currency could gain in value over one and lose value over another.
Any help on this matter would be greatly appreciated.
Can two different currency pairs featuring a common currency move in opposite direction of each other? For instance, can the NZD/USD go down while the NZD/JPY goes up?
It seems to me that currency pair movements are linked in many different fashions, but it also seems logical that a currency could gain in value over one and lose value over another.
Any help on this matter would be greatly appreciated.