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TagsWhat are the factors that influence the correlation between GBP/NZD and digital currencies?
canselDec 26, 2021 · 3 years ago1 answersWhat are the main factors that affect the relationship between the British Pound (GBP) and the New Zealand Dollar (NZD) in relation to digital currencies?
1 answers
- The correlation between GBP/NZD and digital currencies is influenced by various factors. One factor is the interest rate differential between the UK and New Zealand. If the interest rates in the UK are higher than in New Zealand, it can attract investors and lead to an increase in demand for GBP, which may in turn affect the correlation. Another factor is the overall market sentiment towards digital currencies. If there is positive sentiment towards digital currencies, it can lead to an increase in demand for digital currencies, which may result in a positive correlation with GBP/NZD. Additionally, economic indicators, such as GDP growth and inflation rates, can also influence the correlation. It is important to note that the correlation between GBP/NZD and digital currencies can be dynamic and may change over time.Dec 26, 2021 · 3 years ago
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