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Latent demand for NZ dollars fall against the USD.

Written by Sam Coxhead on August 10th, 2012.      0 comments

10:25 AM(NZT) This week has seen a fall in the latent demand for the NZD against the US dollar. The New Zealand dollar softness has not been dramatic, but its decline has been driven by a number of factors. The weakness was evident prior to the disappointing employment numbers yesterday. Comments from NZ Prime Minister John Key amounted to verbal intervention, talking the NZ dollar lower. This assistance will have been welcomed by the exporting sector and RBNZ alike. Expect the relatively narrow ranges to resist in the short term as the US economic data shows signs of gaining upside momentum once again.
 
The current interbank midrate is:                                                            NZDUSD . 8118 
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8094 - .8224
Topics: NZD USD
 

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