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NZD/USD: below and below on 22.06.2015

Despite high volatility of all the major pairs last week, after the US Fed statement regarding interest rate increase and GDP downscale, the NZD continues falling. The currency is being pressurised by soft monetary policy by the Bank of New Zealand aiming at further rate cuts, and falling dairy products prices. New Zealand is the world biggest dairy products exporter. Latest data shows that country’s trading account deficit grew to 3.6% of GDP this year, compared with 3.3% in the last quarter of 2014.

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