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The exchange rate between the New Zealand dollar (NZD) and the US dollar (USD) from Jan 2017 until December 2019 is plotted below. The exchange

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The exchange rate between the New Zealand dollar (NZD) and the US dollar (USD) from Jan 2017 until December 2019 is plotted below. The exchange rate is expressed in USD/NZD. (3 points) Did the New Zealand dollar appreciate or depreciate against the US dollar over this period? Explain

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