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The NZD sees further pressure against the EUR.

Written by Sam Coxhead on May 18th, 2012.      0 comments

4:26 PM (NZT) The NZ dollar has seen further pressure from the EURO as the wider market risk aversion increased this week. Helping the NZD underperformance were the weak NZ retail sales numbers and Fonterra diary auctions results. The pair is now testing the crucial level of .6000 (1.6666). The external lead will continue to dominate next week, consolidation through the .6000(1.6666) opens the way for further NZD underperformance. Uncertainty will remain high in the coming weeks as the prospect of another Greek election in mid June looms. Sound advice would be stagger transfers for those with interest in this pairing.
 
The current interbank midrate is:                                                            NZDEUR .6015                               EURNZD 1.6625
                                                               
The interbank range so far this week to date has been:                 NZDEUR .5999 - .6075                EURNZD 1.6461 – 1.6669
Topics: Eur, Euro, NZD
 

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