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Its a mixed bag for the NZ dollar vs the YEN.

Written by Sam Coxhead on June 22nd, 2012.      0 comments

4:44 PM (NZT) It has been a very interesting and volatile week for this pairing. The NZD has seen solid demand for much of the week as expectations of further US QE, and the strong NZ GDP number boosted the demand. Adding to the upside is the increasing talk from Japanese officials about the unsustainable level of the YEN. However following the FED’s decision not to introduce further QE at their meeting, the NZD has seen some considerable pressure. This pressure has been in line with other growth assets. The pair is close to the mid-point of the weeks range at current levels. If we see some kind of intervention from the Japanese the NZD will outperform in the short term. In the absence of intervention, the outlooks is mixed at current levels.
 
The current interbank midrate is:                                                            NZDYEN 63.20                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 62.10 – 64.10               
Topics: NZ Dollar, YEN
 

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