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No new ground for the NZD EUR pair as the contained range continues.

Written by Sam Coxhead on March 16th, 2012.      0 comments

1:17 AM (NZT) Further sideways movement this week, with the pairing continuing to with a general lack of clear direction. With lowering Asian growth expectations, the NZD may come under pressure in the coming weeks. The stablisation of Euro-zone interest rates is also another factor that should see the EURO stablise. Tempering any strong EURO demand, is the tepid wider economic outlook within Europe. Taking these factors into account, expect the recent range to continue in the short term.
 
The current interbank midrate is:                                                            NZDEUR .6268                               EURNZD 1.5954
                                                               
The interbank range so far this week to date has been:                 NZDEUR .6190 - .6291                EURNZD 1.5896  - 1.6155
 

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