The NZDUSD pair started off the year uneventfully by making a series of slow descends from 0.6757 to 0.6193 from the period of January to March 2020. The Covid-19 pandemic, which escalated in March, stirred up high levels of volatility and exacerbated the downward descend by twice the quantum of the first quarter in a period of two weeks, sending the pair to its low of 0.5469.