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The NZD and AUD pairing remains in expected range.

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

4:32 PM (NZT) This week has seen some grinding appreciation of the AUD over the NZD. With little in the way of sharp moves made , it looks to have been led initially by the lower Fonterra auction results. Investor profit taking from the recent NZD appreciation through to this new range will also have been a factor. The RBA minutes certainly point towards a cut in the cash rate to 4.00% at the May 1st meeting, albeit contingent on next weeks Australian inflation data not producing any surprise in the form of a high number. Expect the short term price action to be continued to be within the expected .7830/.8000 (1.2500/1.2770) range.
 
The current interbank midrate is:                                                            NZDAUD .7880                            AUDNZD 1.2690
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7862 - .7948             AUDNZD  1.2582 - 1.2719
 

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