FOREXCOM:GBPNZD   British Pound / New Zealand Dollar
As China reaffirmed its commitment to its zero-corona strategy, dashed hopes for an economic revival that may increase global demand, the New Zealand currency declined below $0.59, erasing gains after a robust surge.
China has said that it will continue to impose restrictions in the interim. Naturally, that raises the possibility of a possible adjustment as markets progressively reopen this week. As a result, everything is "volatile, reactive, and globally fluid.
Officials from the Reserve Bank of New Zealand stated that, despite warning of potential downside risks to the global economy, the country's high inflation and tight labor market call for a cooling of demand. The Reserve Bank of New Zealand increased interest rates by half a percentage point in October, but markets now expect a greater increase of 75 basis points in November.

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