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Good value buying of NZD with YEN.

Written by Sam Coxhead on May 25th, 2012.      0 comments

5:10 PM (NZT) The NZD has seen further pressure from the YEN this week, although it has bounced back from its lows. The market is back at levels not seen for six months and represent good value buying of NZD with YEN. It is difficult to know if we will get back to the lows of November last year at 57.00, so potential purchases of NZ dollar should be staggered if time is not critical. Next week’s lead will primarily come from the wider market appetite for risk, in the absence of top tier data due for release in either economy.
 
The current interbank midrate is:                                                            NZDYEN 60.10                             
                                                               
The interbank range so far this week to date has been:                 NZDYEN 59.15 – 61.06             
Topics: JPY, NZD, YEN
 

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