The New Zealand dollar and Japanese yen are the two-worst performing major currencies of 2024. That's an odd occurrence as they often find themselves on the opposite sides of the spectrum as a traditional high yielder (NZD) and low yielder (JPY).
This year, the US dollar took an 11.6% bite out of both.
It certainly wasn't a straight line for anyone trading the pair. NZD steadily rose against JPY from May to mid-July and then the bottom fell out as the market sniffed out a global slowdown. It was a rug pull in the pair that led to some breathtaking selling for three straight weeks. That drop was an early warning sign that foreshadowed (by about a week) a drop in US equities and global risk assets.
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.Hence then, the article about an unlikely pair made the two worst performing major currencies was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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