NZDJPY November 15th, 2023

15 Kas 2023

In 2023, the RBNZ raised interest rates several times in an effort to combat inflation. This led to an increase in the value of the NZD, as investors sought higher returns in New Zealand. Strong economic growth in New Zealand can lead to an increase in demand for the NZD, as businesses and investors look to invest in the country. New Zealand is a major exporter of commodities, such as dairy products, meat, and wood. When commodity prices rise, it can lead to an increase in the value of the NZD, as exporters receive more foreign currency for their products.

The Japanese central bank, Bank of Japan (BOJ), sets the official interest rate. When interest rates in Japan are lower than interest rates in other countries, investors are more likely to invest in other countries, which can lead to a decrease in the value of the JPY. Weak economic growth in Japan can lead to a decrease in demand for the JPY, as businesses and investors look to invest in other countries. Japan is a major importer of commodities, such as oil and natural gas. When commodity prices rise, it can lead to an increase in the value of the JPY, as importers need to pay more foreign currency for their products.