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New Zealand Dollar

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New Zealand Dollar


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The New Zealand dollar was one of the major beneficiaries of the yen carry trade. Now, with the crisis diminishing interest in borrowing yen to buy currencies benefiting from high interest rates, the Kiwi is one of the biggest victims. New Zealand's economy is heavily dependent on exports of products such as wool and dairy, and the currency is therefore also suffering from the end of the global commodities bubble that has pushed down global demand.