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The NZ dollar pushes back higher again the GBP

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

4:26 PM (NZT) This pair remains close to the top end of its recent range. The NZD has continued to apply pressure on the AUD, but for the time being has been unable to cleanly break through resistance (AUDNZD support). The RBA monetary meeting minutes confirm they will be very much data focused going forward, so any softer economic numbers will see the NZ dollar outperform. Next week will see the focus on the Australian political situation for the most part, as it is unlikely that the economic data will hold any game changing surprises for the RBA. A messy resolution of the Australian Labour Party leadership issues may enable the NZD to further appreciate. A consolidated move through the .7830 level (AUDNZD 1.2780), would open the way for further NZD appreciation.
 
The current interbank midrate is:                                                            NZDAUD .7802                            AUDNZD 1.2817
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7772 - .7817             AUDNZD  1.2793 - 1.2867
 
 

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