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New Zealand dollar against the YEN this week?

Written by Sam Coxhead on December 16th, 2011.      0 comments

4:25 PM (NZT) The NZD has been under pressure for a good portion of this week as the wider market risk aversion weighed on the NZ dollar, and created demand for YEN. The marco issues within the market have been the primary driver, with no economic data of impact being released in New Zealand. Next week the focus changes, with Thursday seeing  the important 3rd quarter NZ GDP figures released. A better than expected number may see some demand for NZD, as it has been under pressure against a number of different currencies. The late rally today illustrates the unpredictable nature of December markets, and this illiquid price action can be expected for the remainder of the year.
 
The current interbank midrate is:                                                            NZDYEN 59.10                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 58.22 – 60.22              
 

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