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The GBP keeps the pressure on the NZD

Written by Sam Coxhead on March 30th, 2012.      0 comments

4:45 PM (NZT) This pairing has seen a relatively contained range this week, with little in the way of significant economic data in either economy. The NZD has held its own for the most part, until the risk aversion increased overnight. It has recovered from its lows, but looks poised to test further to the downside on any negative sentiment. Next week sees the focus almost entirely in the UK for the pairing. Consolidation through the .5100 (1.9600) level is needed to open up the way for another leg lower for the NZD.
 
The current interbank midrate is:                                                            NZDGBP .5125                                       GBPNZD 1.9512
                                                               
The interbank range so far this week to date has been:                 NZDGBP .5103 - .5166                GBPNZD 1.9357 – 1.9596
 

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