Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
AUD/NZD extended losses, extending Wednesday’s retreat. AUD/NZD is trading lower, down 0.95% for the week. Australia’s purchasing managers’ index was mixed, with manufacturing falling further. AUD/NZD emerged from recent weak…
