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The EUR/NZD currency pair, which expresses the value of the euro in terms of the New Zealand dollar, is a mostly risk-neutral pair that has been falling since its sharp ascent in March 2020, after the euro gained against almost all major currencies following a market rout in global equities.
As market conditions have gradually been normalizing over the past few weeks and months, EUR/NZD has now fallen back to a level that is close to the trading range that it preferred just prior to its sharp rise in March (which saw the pair trade