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The NZ dollar outperforms the GBP.

Written by Sam Coxhead on December 6th, 2012.      0 comments

4:34 PM (NZT)The price action this week has seen the NZD push up close to the top if its recent range. The scramble to cover “sold NZD” positions following what should have been an expected statement from the RBNZ, has driven the demand for the NZD. The recent weak NZ Q3 economic data has not been enough to sway the RBNZ into an easing bias. Current levels offer good value buying of GBP with NZ dollars, especially given the potential  uncertainty in the wider market in the coming weeks. Next week sees the UK employment numbers dominate the focus for this pair, ahead of the belated Q3 NZ employment numbers the following week.
 
The current interbank midrate is:                                             NZDGBP .5157                       GBPNZD 1.9391
                                                                                         
The interbank range so far this week to date has been:  NZDGBP .5091 - .5161                GBPNZD 1.9376 – 1.9643
Topics: NZD GBP
 

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