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The NZ dollar pushes higher against the YEN.

Written by Sam Coxhead on October 19th, 2012.      0 comments

5:05 PM (NZT) The NZ dollar has seen some reasonable gains against the YEN this week. This performance has come in spite of the lower than expected NZ inflation numbers. The wider market risk appetite has coupled with the increased expectations for further BOJ easing to produce the move. The pair now approaches the upper end of the established 63.50 - .65.50 range. This will likely see further gains from the NZ dollar harder to make from the current levels. Again expect the wider market to drive direction ahead of the RBNZ monetary policy meeting next Thursday. Japanese inflation next Friday will be closely watched, but should be of limited impact to the price action.

The current interbank midrate is:                                                 NZDJPY .          65.03      
                                                           
The interbank range so far this week to date has been:               NZDJPY           63.69 - 65.23
 

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