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The FED pushes the NZ dollar higher against the EURO.

Written by Sam Coxhead on September 14th, 2012.      0 comments

2:49 PM (NZT) The NZ dollar has continued to take back some of its recently lost ground against the EURO. The sharpest appreciation has been seen following the FED’s monetary policy announcement overnight. The pair is right on NZD resistance at current levels .6410 (1.5600). Consolidation through these levels would open up the way for further NZD appreciation. However, further gains should prove somewhat harder to make for the NZ dollar, with positive news continuing to come from developments in Europe. Headlines emanating from EU leaders meeting over the weekend provide the short term focus. These come ahead of German business sentiment and Euro-zone manufacturing and services numbers in Europe, and 2nd quarter growth numbers in NZ next week.
 
 
The current interbank midrate is:                                                            NZDEUR .6408                               EURNZD 1.5605
                                                               
The interbank range so far this week to date has been:                 NZDEUR .6321 - .6415                EURNZD 1.5588 – 1.5820
Topics: NZD EURO
 

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