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The NZ dollar has been relatively stable against the EURO

Written by Sam Coxhead on October 13th, 2011.      0 comments

5:55 PM (NZT) This pair has been relatively stable of the past week. As the risk aversion dramatically decreased the NZD has outperformed, but not to the degree of the AUD. The pair has spent the majority of the week in the .5720/.5760 (1.7360/1.7480) range. There is little in the way of data that should move the pairing significan6tly for the remainder of the week. Next week sees the focus again on Europe in the absence of economic data in NZ. Expect details about the bank aid plan to be drip fed to the market and the German consumer and business confidence numbers to be closely watched. Current levels seem to be fair value for the pairing in the current environment.
 
The current interbank price is:       .7393 ( 1.3526)     
                                                               
The interbank range on the week to date has been:       .7255/.7410 ( 1.3495/1.3783)
 

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