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The NZ dollar recovers lost ground against the Pound Sterling.

Written by Sam Coxhead on July 27th, 2012.      0 comments

3:02 PM (NZT) This pairing has had an interesting week, and finds itself back at the recently familiar levels where it started the week at. The increased risk aversion early in the week saw the GBP place pressure on the NZ dollar. Even taking into account the shockingly weak UK GDP number, it took the comments last night from the ECB head to drag the NZ dollar back to the current levels. The RBNZ’s neutral statement accompanying the unchanged monetary policy decision aided the stuttering appreciation of the NZ dollar. Next weeks sees all the focus back on the UK, and Europe to a certain extent. The respective BOE and ECB monetary decisions will certainly provide the weeks lead. Further progress from the NZD from current levels should prove harder fought.
 
The current interbank midrate is:                                                            NZDGBP .5108                               GBPNZD 1.9577
                                                               
The interbank range so far this week to date has been:                 NZDGBP .5036 - .5122                GBPNZD 1.9524 – 1.9857
Topics: NZD GBP
 

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