The New Zealand Dollar (NZD) and Singapore Dollar (ZGD) is known as a cross pair. These kinds of pairs often move differently to majors but are still in line with other currencies. For instance, the SGD is influenced by the USD, while the movement of New Zealand’s neighbouring currency, the Australian dollar, is often positively correlated to NZD.
New Zealand currency has a long history of over 160 years. During the 1800s, New Zealand used its coins and banknotes before British currency was even legal currency. The New Zealand dollar is the official currency of New Zealand and is represented by the symbol $ or NZ$ to set it apart from other currencies based on dollars.
The Singapore dollar (SGD) was first issued in 1965 after the breakdown of the monetary union between Malaysia and Brunei. Since the financial crisis in 2007, the SGD became one of the best-performing currencies. The Singapore dollar became a popular destination for offshore investors and is the 12th most traded currency worldwide, and the 3rd most in Asia.
