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Further YEN demand places pressure on the NZ dollar.

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:23 PM (NZT) The NZD has again been under pressure from the YEN this week. The NZD has managed to stablise finally , after what has been a dramatic fall over the last couple of weeks. The lip service about the broad strength of the YEN from Japanese officials may have helped stablise the pair. If the NZ interest rate market can  further correct from this week’s debacle, the NZD should find further support. But he lead will undoubtedly come from the wider market risk appetite in the short term, predominantly driven by how things play out in Europe.
 
The current interbank midrate is:                                                            NZDYEN 62.60                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 62.14 – 63.71              
Topics: NZD JPY YEN
 

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