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The NZ dollar sees upside against the YEN this week.

Written by Sam Coxhead on February 10th, 2012.      0 comments

2:45 PM (NZT)
The NZD dollar has continued its grinding appreciation against the YEN this week. The wider financial markets have seen a continued appetite for growth assets and this has been the primary driver for this move. Whether or not the recent NZD appreciation accelerates, upon conclusion of any concrete deal with regards to Greek debt, will be the interesting factor next week. The respective domestic economic data for this pair is not providing the lead in this market. The push higher in yield of US debt is pushing the USDYEN rate higher, which is putting the YEN under further pressure across the board. The level of NZDJPY 65.50 provides the next significant resistance for the pair.
 
The current interbank midrate is:                                                            NZDYEN 64.70                           
                                                               
The interbank range so far this week to date has been:                 NZDYEN 63.46 – 64.86               
 

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