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The NZ dollar pushes higher against the AUD ahead of the RBA next week.

Written by Sam Coxhead on September 28th, 2012.      0 comments

2:13 PM (NZT) This pair has continued to rumble around in what has become a familiar range of late. Most surprising was the strong, but short lived pressure that the NZ dollar saw at the beginning of the week. Since setting the lows late on Monday, the consistency of the NZ dollar demand has been impressive. Whether or not the pair can consolidate its break through the .7950 (1.2580) level remains to be seen, but it seems likely that any further appreciation from the NZ dollar is going to be hard fought from the current levels. Next week the focus comes solely from Australia in the absence of any material kiwi economic news. The RBA monetary policy decision on Tuesday will be closely watched, as will the trade balance Wednesday, and building approvals and retail sales Thursday.
 
The current interbank midrate is:                                                            NZDAUD .7977                            AUDNZD 1.2536
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7864 - .7980            AUDNZD  1.2531 - 1.2762
 
Topics: NZD AUD
 

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