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Is this the top for the NZD vs the GBP?

Written by Sam Coxhead on December 14th, 2012.      0 comments

12:40 PM (NZT) The NZ dollar has seen further heavy demand against the GBP this week. It managed to break through the .5200 resistance (1.9230 support) reasonably early in the week, but since then the momentum has finally started to wane. Anywhere around the current levels offer good value buying of GBP with NZ dollars. Next week the NZ economy focus comes mainly from the release of the 3rd quarter GDP number on Thursday. In the UK, the busy lead up to Christmas will see the inflation number Tuesday, and retail sales number Thursday closely watched. If we see further appreciation from the NZ dollar from current levels, the ground will be harder fought than earlier gains.
 
The current interbank midrate is:                                             NZDGBP .5231                          GBPNZD 1.9117
                                                                                         
The interbank range so far this week to date has been:  NZDGBP .5184 - .5242           GBPNZD 1.9077 – 1.9290
Topics: NZD GBP
 

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