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The NZD grinds higher against the Australian dollar.

Written by Sam Coxhead on June 22nd, 2012.      0 comments

4:31 PM (NZT) The NZD has outperformed the Australian dollar for the most part this week. Contracting interest rate differentials have provided the bulk of the pressure for this move. The question is whether or not the NZ dollar will be able to maintain this pressure. Certainly the next target will be .7875 (1.2700) in the short term. With little in the way of economic data for either economy next week, further range trading within the recent .7790/.7875 (1.2700/1.2840) range is likely. Anywhere within that contained range represents reasonable value for this pair given current outlook.
 
The current interbank midrate is:                                                            NZDAUD .7840                            AUDNZD 1.2755
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7790 - .7865             AUDNZD  1.2714 - 1.2836
Topics: AUDNZD
 

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