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The NZ dollar treads water against the YEN.

Written by Sam Coxhead on July 20th, 2012.      0 comments

4:31PM (NZT) This pairing has seen mostly sideways trading this week. The lows were set following the lower than expected NZ inflation data, but the weakness was short lived. Continued rhetoric from Japanese officials with regards to the extreme strength of the YEN should provide demand for the pair in the short term. With the lower of global growth forecast for 2012 and 2013, any real NZD appreciation seems unlikely in the near term. Expect further sideways trading into next week, with the RBNZA monetary policy decision to be closely watched, but of limited impact.
 
The current interbank midrate is:                                                            NZDYEN 63.15                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 62.53 – 63.29             
 

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