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The NZD dragged higher against the US dollar.

Written by Sam Coxhead on October 19th, 2012.      0 comments

5:00 PM (NZT) It has been an interesting week for this pairing. The NZ inflation numbers coming in lower than expected somewhat undermined demand for the NZD following the announcement. However the NZ dollar under performance proved to be temporary and the wider market saw a distinct increase in the appetite for risk. This saw the NZD outperform the US dollar, although to a lessor extent than most other currencies. The pair remains caught within what has become a very familiar .8000 - .8300 range over the last month or so. Expect this further range trading to continue in the short term, with next week's respective central bank monetary policy meetings expected to be of limited impact. The advanced US GDP number on Thursday will also be of focus, as will the ongoing drama around the looming presidential elections in the US.

The current interbank midrate is:                                                 NZDUSD .8190
                                                           
The interbank range so far this week to date has been:               NZDUSD .8103 - .8233
Topics: NZD USD
 

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