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The GBP outperforms the NZD this week.

Written by Sam Coxhead on August 24th, 2012.      0 comments

5:45 PM (NZT) The Pound Sterling has placed subtle pressure on the NZ dollar this week. The EURO provided the lead, and dragged the GBP higher in the absence of any particular positive UK economic news. With the gloss starting to come off the Australasian currencies somewhat, further GBP outperformance cannot be ruled out in the short term at least. The weakening Asian growth profile certainly lends towards a lower NZD path in the coming months. Current levels still offer good value buying of GBP with NZD. Should support at .5100( resistance 1.9600) be broken, expect further investigations lower from the NZ dollar.
 
The current interbank midrate is:                                                            NZDGBP .5127                               GBPNZD 1.9504
                                                               
The interbank range so far this week to date has been:                 NZDGBP .5113 - .5170                GBPNZD 1.9342 – 1.9558
Topics: NZD GBP
 

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