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Its one way traffic for the NZ dollar against the GBP.

Written by Sam Coxhead on August 3rd, 2012.      0 comments

6:12 PM (NZT) The NZ dollar has seen grinding appreciation against the Pound Sterling throughout the course of this week.  The .5200 (1.9230) level provided some GBP support as expected , but the Kiwi has managed to continue its appreciation. Obviously the underwhelming ECB meeting has dragged on the GBP. Adding to the NZ dollar out performance overnight was the buoyant Fonterra auction result and today’s S&P affirmation of the NZ credit rating. The NZ dollar may continue to outperform in the short term, but the ability to consolidate around the current levels remains to be seen. The NZ employment numbers loom large next week, as does the BOE inflation report.
 
The current interbank midrate is:                                                            NZDGBP .5245                               GBPNZD 1.9066
                                                               
The interbank range so far this week to date has been:                 NZDGBP .5137 - .5245                GBPNZD 1.9066 – 1.9467
 
Topics: NZD GBP
 

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