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Great time to buy NZ dollars with the AUD.

Written by Sam Coxhead on July 20th, 2012.      0 comments

4:34 PM(NZT) The NZ dollar has seen constant pressure from a resurgent Australian dollar this week. The Australian dollar has been stronger across the board and it has been driven by a number of factors, including solid demand from various central banks as they diversify their foreign exchange holdings. The RBA monetary policy meeting minutes and lower NZ inflation number have also been contributing factors. The move has been such that the pair has re-entered the zone that constitutes good value buying of NZ dollars. With neither central bank expected to make monetary policy changes in the coming months, expect the pair to trade a fairly tight range once the current AUD buy flows have been absorbed by the market.
 
The current interbank midrate is:                                                            NZDAUD .7702                           AUDNZD 1.2984
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7688 - .7789             AUDNZD  1.2839 - 1.3007
 

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