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Has the NZD against the YEN reached a top?

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

1:20 PM (NZT) The NZ dollar continues to be strong against the recently beleaguered YEN. It does look to have waning momentum somewhat around current levels however. Current levels represent very good value buying of YEN. Today’s BOJ’s monetary policy meeting minutes and next Thursdays NZ GDP number, provide the domestic focus for the pairing in the short term. Traditionally YEN demand is seen into the end of March, as this is financial year end, and this is something that should be considered also.
 
The current interbank midrate is:                                                            NZDYEN 66.44                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 66.83 – 68.51              
 

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