Markets, Mystics & Mayhem podcast: Ep50

Published on 30 September 2025

We’re celebrating our 50th episode with special guest Hamish Wilkinson, Senior Dealer in Kiwibank’s Financial Markets team, to unpack our latest FX Tactical. Interest rate differentials are back in the driver's seat. And we’re diving into the performance and outlook for the Kiwi dollar against the Greenback, Aussie dollar, Sterling, Euro and Yen.

KB_MaryJo_Profile_500x500

Mary Jo Vergara

Senior Economist
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Sabrina Delgado

Economist

Currency lowdown with the Kiwi southbound

After some time of tariff headlines driving currencies, interest rate differentials are now back at wheel driving currency movements. And with the RBNZ clearly needing to do more relative to other central banks, the Kiwi dollar has come under significant downwards pressure. So we’re diving into the performance and outlook for the Kiwi dollar against the Greenback, Aussie dollar, Sterling, Euro and Yen.

And as always, we couldn’t resist throwing Wilkie a curveball currency pair. This time, it felt only fitting to ask about the Krona (Sweden’s currency) given the appointment of Dr Anna Breman as the incoming RBNZ Governor. We also take some time to compare the Swedish and New Zealand economy.

Check out our latest FX Tactical, "Crikey! The Kiwi currency has lost a lot of ground against the Aussie"

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All content is general commentary, research and information only and isn’t financial or investment advice. This information doesn’t take into account your objectives, financial situation or needs, and its contents shouldn’t be relied on or used as a basis for entering into any products described in it. The views expressed are those of the authors and are based on information reasonably believed but not warranted to be or remain correct. Any views or information, while given in good faith, aren’t necessarily the views of Kiwibank Limited and are given with an express disclaimer of responsibility. Except where contrary to law, Kiwibank and its related entities aren’t liable for the information and no right of action shall arise or can be taken against any of the authors, Kiwibank Limited or its employees either directly or indirectly as a result of any views expressed from this information.

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