This pairing represents the sum of U.S. Dollars (the quote currency) that is needed to equal the value of a New Zealand dollar (base currency). Trading the currency pair is also known as trading the "kiwi." Just like the USD/CAD, AUD/USD and NZD/USD, the NZDUSD is considered as a commodity pairing. This means that the pair's exchange rate is affected by the current market value of an underlying commodity. The NZD has benefitted in the past from a multi-decade commodity boom that saw its value soar so high that the Reserve Bank of New Zealand was forced to introduce devaluation measures in 2012. The NZDUSD is also influenced by the interest rate differential between the Reserve Bank of New Zealand (RBNZ) and the Federal Reserve (Fed).