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The NZ dollar under pressure from the USD.

Written by Sam Coxhead on August 31st, 2012.      0 comments

10:50 AM (NZT) The NZ dollar has seen renewed pressure from the US dollar this week. The NZD saw the pressure really come on following the downward revision of the Fonterra payout forecast. This news was followed by well timed NZD negative comments from the NZ Minister of Finance. The end effect has been a material pull back in demand for the NZ dollar from international investors. Undoubtedly helping ease the way lower for the NZD has been a softer Australian dollar. The US dollar has seen renewed demand ahead of the central bankers symposium at Jackson Hole. Consolidation through the crucial support at .8000 into the weekend, would enable further investigations lower next week. At Jackson Hole expect FED Chairman Bernanke to state that further monetary easing is an option if required, but not commit to it at this juncture.
 
The current interbank midrate is:                                                            NZDUSD .7985  
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .7965 - .8128
Topics: NZD USD
 

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