The New Zealand dollar to US dollar exchange rate at 0.61121 is showing that the Kiwi is becoming a favorable choice in August, according to the financial institution ING.

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NZDUSD Chart by TradingView

NZD is dropping in line with other pro-cyclical currencies after the US credit downgrade. Nonetheless, economists at ING expect the NZD/USD pair to recover in the coming weeks.

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