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How has the NZD perfoemed against the USD this week?

Written by Sam Coxhead on March 9th, 2012.      0 comments

12:30 PM (NZT) This week has been a mixed one for the NZD against the US dollar. The pair has traded a range again, albeit a lower one from last week. The NZD came under initial pressure as Chinese officials made a downward adjustment of 2012 growth expectations to 7.5%. Early week uncertainty surrounding progress on the Greek debt swap also aided the US dollar across the board. The turnaround came late Wednesday, as levels of risk aversion abated and the equity markets saw gains. Further progress has been made in the Greek debt swap, and reports of over 80% participation have emerged. The rise of the NZ dollar has come in the face of the dovish assessment from the RBNZ, so clearly, wider market forces are leading the pair.
 
The current interbank midrate is:                                                            NZDUSD .8248 
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8096 - .8310
 

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