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Good levels to buy NZD with Japanese YEN

Written by Sam Coxhead on June 1st, 2012.      0 comments

5:12 PM (NZT) The NZD started the week well supported as the rumours on a Europe wide bank support funds made the rounds. As it became evident that no such plan was likely to be forth coming, the risk aversion re- emerged and the NZD against saw considerable pressure from the safe haven YEN. Current levels certainly represent very good value buying of NZD with YEN. next week’s lead will again come from the wider market risk appetite in the absence of any domestic data in either economy for the bulk of the week. It is unlikely to see any great NZD resurgence ahead of the Greek election on the 17th of this month.
 
The current interbank midrate is:                                                            NZDYEN 58.99                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 58.66 – 60.79           
Topics: NZDJPY, NZDYEN
 

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