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The NZD and AUD stuck in the familiar range, fair value for money transfers.

Written by Sam Coxhead on October 6th, 2011.      0 comments

3:25 PM (NZT) This pair remains very much in familiar ground. Since the RBA monetary policy announcement the NZD has appreciated a little but then again has drifted from the peak over the last 12 hours. The pair remains in the broader .7800/.8050 range that we have been in for the last 3months. With little chance of a hike in the cash rate from the RBNZ this year, and the possibility of an easing in the next few months from the RBA, there is potential for the NZD to make up further ground against the AUD as the interest rate differential between the two currencies closes up. Any great move is unlikely to happen in the next week.
 
The current interbank price is:  .7935 (1.2602)
                                                               
The interbank range on the week to date has been:   .7821/.7979 (1.2533/1.2786)
 

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