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The NZD climbs higher against the US dollar.

Written by Sam Coxhead on December 14th, 2012.      0 comments

12:10 PM (NZT) The NZ dollar has seen wide spread demand this week, and against the US dollar has been no exception. But the unrelenting momentum has been tamed at the .8450 level at this stage. The increased demand since the RBNZ meeting was further fuelled by the FED monetary policy announcement this week. The move has been somewhat surprising to say the least, but typical of what can eventuate at times in the NZD market. The USD is due for a claw back of lost ground, and with other risk indicators looking tired, there is a good chance of the pull back for this pair. Lower levels of liquidity in the coming weeks could see accentuated moves. Next week sees the belated 3rd quarter GDP number released on Wednesday in NZ. In the US, the fiscal negotiations will dominate the focus, along with final GDP numbers and the latest manufacturing index numbers.
 
The current interbank midrate is:                                                  NZDUSD .8430
                                                                                         
The interbank range so far this week to date has been:       NZDUSD .8312 - .8455
Topics: NZD USD
 

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