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Contained price action for the NZD against the YEN.

Written by Sam Coxhead on September 7th, 2012.      0 comments

1:15 PM (NZT)This pair has spent most of the week trading in a very contained 40 odd point range. The confirmation of the ECB debt market plans overnight gave the risk assets (of which the NZD is a part)a boost as the risk of the complete European melt down was materially reduced. This has seen the NZD boosted to the highs for the week and the pair has again settle down into a small range at the elevated levels. The external lead will continue to be the primary driver for this pair next week, as the RBNZ monetary policy decision will likely be a non event. Expect the range trading to continue within the larger 62.00 – 64.00 band in the short term.
 
The current interbank midrate is:                                                            NZDYEN 63.18                             
                                                               
The interbank range so far this week to date has been:                 NZDYEN 62.01 – 63.40             
Topics: NZD YEN JPY
 

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