An unlikely pair made the two worst-performing major currencies ...Middle East

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This year, the US dollar took an 11.6% bite out of both.

But the economic pain never really materialized in a way that some central bank rate cuts couldn't handle. The Fed pivoted and NZD/JPY has cautiously tried to find a bottom.

Mixed in with that has been a haphazard Chinese stimulus program that's at times inspired the market but mostly disappointed it. That will remain a big theme in NZD/JPY and trading in general in 2025.

This article was written by Adam Button at www.forexlive.com.

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