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NZD outperforms the USD this week.

Written by Sam Coxhead on December 6th, 2012.      0 comments

3:11 PM (NZT) The NZ dollar has outperformed the US dollar this week. The surprising performance has been provided by a number of different factors. Lower levels of uncertainty in Europe have increased the wider market sentiment. There has certainly been a scramble to cover “sold positions” in both the NZD and AUD following the respective monetary policy decisions. The more balanced sentiment shown by both central banks will not have been a surprise to Australasians, but appears to have caught some of the market unaware. Once the exiting of positions has been absorbed over the next couple of days, the market will have a better idea about whether or not the current levels are appropriate. The healthy Australian employment numbers helped push the NZDUSD through to the highs for the week. Given the current environment, the levels offer good value buying of USD with NZD to my mind.
 
The current interbank midrate is:                                                            NZDUSD .8295 
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8164 - .8309
Topics: NZD USD
 

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