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The EURO assisted GBP puts the pressure back on the NZ dollar.

Written by Sam Coxhead on November 23rd, 2012.      0 comments

11:48 PM (NZT) This pair has again seen the weeks price action contained in a fairly tight range this week. After initially seeing demand early on in the week, the NZ dollar saw some pressure as the wider market risk appetite waned. The EURO was surprisingly supported and this fed through to support the closely correlated GBP. This support has capped any material bounce from the NZD on the week. Next week sees a limited focus on economic data with just final Q3 GDP numbers in the UK, and business confidence numbers in NZ. Expect the recent range to contain the price action once again. Focus will also be provided by the outcome for further funding assistance for Greece.
 
The current interbank midrate is:                                             NZDGBP .5120                           GBPNZD 1.9531
                                                                                         
The interbank range so far this week to date has been:  NZDGBP .5087 - .5155            GBPNZD 1.9399 – 1.9658
Topics: GBP NZD
 

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