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Further range trading for the NZD AUD pairing.

Written by Sam Coxhead on March 16th, 2012.      0 comments

11:20 AM (NZT) In the absence of significant domestic economic data in either economy, this pair remains in its well trodden recent range. With no further increased expectation of a lower Australian cash rate in the near term, expect this .7700 - .7830 (1.2775 - 1.3000) range to continue in the short term at least. Next week focus comes from the RBA monetary policy meeting minutes on Tuesday, and NZ GDP numbers Thursday.
 
The current interbank midrate is:                                                            NZDAUD .7785                            AUDNZD 1.2845
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7723 - .7811             AUDNZD  1.2802 - 1.2948
 

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