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Mixed performance from the NZDAUD (AUDNZD) pairing.

Written by Sam Coxhead on August 31st, 2012.      0 comments

11:06 AM (NZT) This pair started the week with the NZ dollar in demand and at the top of the recent ranges against the AUD. This did not last long after the Fonterra announcement it had revised down the forecast payouts for the 2012/13 season. Adding to the NZD selling pressure were the comments from the NZ finance minister. So the pair remains in somewhat familiar territory. Interestingly the Australian interest rate market moves point towards the AUD underperforming, as the interest rate differentials close up between the two economies. Also if the Chinese manufacturing numbers disappoint over the weekend, the AUD will be expected to further underperform.
 
The current interbank midrate is:                                                            NZDAUD .7760                            AUDNZD 1.2886
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7722 - .7804             AUDNZD  1.2814 - 1.2950
Topics: NZD AUD
 

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