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The NZD holds its ground against the US dollar.

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

5:52 PM (NZT) This pair has traded an unusually tight range so far this week. With the exception of a very temporary  pre-ECB announcement spike higher, the range has been contained to .8070 - .8120 for the most part. Initially this was driven by a waiting games for the flurry of central bank announcements. But the softness expected by following the underwhelming ECB decision has been countered by the perky Fonterra auction result. Both Australasian currencies have seen latent demand on any softness of late. For the most part this has been attributed to increased demand for Government bonds. Whether or not this can be sustained is the question. The NZ credit rating affirmation by S&P has given the NZD a boost to finish the week while the US dollar was generally stronger against most other currencies.
 
The current interbank midrate is:                                                            NZDUSD .8104  
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .8063 - .8172
Topics: NZD USD
 

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