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The NZD remains high against the GBP.

Written by Sam Coxhead on February 10th, 2012.      0 comments

5:20 PM (NZT) The NZ dollars recent appreciation against the Pound Sterling has lost some of its momentum this week. The pairing has seen a relatively small range, in the face of a mixed NZ labour market report, and the further QE from the BOE. With the pairing unable to break .5300 (GBPNZD 1.8870), the price action next week will be interesting to watch. The economic data is starting to pick up in the UK, and the BOE acknowledged this in their statement accompanying the increased QE program. Next week we have NZ and UK retail sales numbers due for release, along with UK inflation numbers. However, there is no doubt the overall market focus will remain on the European efforts around the Greek debt swap. Expect ranges on this pairing to be reasonably well contained again, now the NZ demand seems to have abated somewhat.
 
The current interbank midrate is:                                                            NZDGBP .5265                               GBPNZD 1.8993
                                                               
The interbank range so far this week to date has been:                 NZDGBP .5244 - .5296                GBPNZD 1.8882 - 1.9069
 

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