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The AUD maintained its recent pressure on the NZ dollar.

Written by Sam Coxhead on October 19th, 2012.      0 comments

5:02 PM (NZT) It has been an interesting week for this pair as last week's NZ dollar under performance has continued to play out this week. This under performance has been driven by the lower than expected NZ inflation numbers, and the positive economic news from China which is of more direct beneficial impact on the AUD. Assuming that the significant NZ dollar support level at .7880 (1.2700) holds for the time being, the focus moves to the Australian inflation numbers on Tuesday and RBNZ monetary policy meeting on Thursday. The first meeting with new RBNZ Governor Wheeler at the helm will be closely watched. Any indications of a policy slant will probably impact, albeit unlikely he will divert to widely from the banks recent rhetoric. For those that think further easing from the current 2.50% cash rate in NZ is unlikely, the current level offer good levels to buy NZ dollars with AUD funds.

The current interbank midrate is:                                                 NZDAUD    .7898             AUDNZD     1.2661
                                                           
The interbank range so far this week to date has been:               NZDAUD  .7881 - .7990    AUDNZD     1.2516 - 1.2689
Topics: NZD AUD
 

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