Economic Spotlight: New Zealand and Australia’s Currencies

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Economic Spotlight: New Zealand and Australia’s Currencies

By Erik Norland, Senior Economist, CME Group

Highlights

  • AUD is down 31% vs. USD since 2011, NZD is down 15%.
  • NZD has outpaced AUD amid more robust growth, better export prices.
  • NZD tracks EUR more closely than AUD due to export competitiveness.
  • Interest rates in New Zealand and Australia are close to zero.
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