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Is the NZDGBP on the turn?

Written by Simon Norrie on August 17th, 2012.      0 comments

Friday 17 August 5:07 PM NZT. Like every other currency pair this week the Kiwi has been very well behaved bobbing around small ranges against all crosses. Whether it’s the sleepy hangover of the Olympics or the lack of significant economic data both here and offshore the net result has been an incredibly boring week of trading. A pretty good week data wise from both these economies, which is a pleasant change on the previous week. The GBP has however finished slightly stronger. This probably is more a reflection of the market taking profit, as these current levels still look overcooked. For sellers of NZD, these still are heady levels and present amazing value, when compared to historical levels for this pairing. For buyers of NZD, maybe things are finally turning a corner in the UK, so perhaps better levels for GBP sellers are not so far away.
The current interbank midrate is:                                                           
NZDGBP  .5155                        GBPNZD  1.9398     
                                                         
The interbank range so far this week to date has been:                
NZDGBP  .5132  -  .5183         GBPNZD    1.9293 - 1.9485
Topics: NZDGBP (GBPNZD)
 

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