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The NZD appreciation slows against the Pound Sterling.

Written by Sam Coxhead on February 3rd, 2012.      0 comments

5:50 PM (NZT) The NZ dollar has continued to appreciate over the pound sterling this week, albeit at a slower pace than recently seen. It is near solid resistance levels for the NZD, and its inability so far to push through the .5300 (1.8870) level should be noted. Further quantitative easing from the BOE must be factored in at current levels, and therefore further gains in the NZ dollars favour will be harder fought from here. The focus next week is on the labour market in NZ, and the BOE in the UK. Current levels represent good value buying of GBP with NZ dollars.
 
The current interbank midrate is:                                                            NZDGBP .5260                               GBPNZD 1.9011
                                                               
The interbank range so far this week to date has been:                 NZDGBP .5199 - .5287                GBPNZD 1.8914 – 1.9234
 

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