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A volatile week for the NZD against the YEN

Written by Sam Coxhead on March 9th, 2012.      0 comments

12.32 PM (NZT) The NZD saw some intense pressure from the YEN to start the week, as global risk aversion increased. The downward revision of Chinese growth expectations hit the NZD particularly hard. Sentiment turned mid week as stock markets stablised and the likelihood of a reasonable result on the Greek debt swap became evident. The NZD managed to maintain its gains in the face of a dovish monetary policy statement from the RBNZ. Next week, expect the wider market forces to continue to provide the lead for this pair in the absence of top level economic data from either economy.
 
The current interbank midrate is:                                                            NZDYEN 67.21                             
                                                               
The interbank range so far this week to date has been:                 NZDYEN 65.28 – 67.98               
 
 

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