Forex News While NZD/USD has recorded "significant depreciation" over 1H08, weak economic fundamentals suggest Kiwi has further to fall, says Macquarie Equities; adds though high interest rates have long benefitted Kiwi, this support set to erode. "with interest rates potentially being on par with other currencies in a reasonably short period of time, carry trades around the NZD could be unwound very quickly." Says this change in investment strategy, plus changing economic picture, could prompt rapid depreciation of NZD, which could remain weak for an extended period. NZD/USD last 0.7607.
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