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The NZD sets new all time highs against the EURO

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

5:35 PM (NZT) The New Zealand dollar ground higher again against the EURO this week to set new record highs. The NZD was in demand across the board and the setting of another new high was not a huge surprise. The momentum does seem to be slowing somewhat, and this does not surprise given the run over the last few weeks. A resolution of the Greek bond write downs would potentially see some support come in for the EURO. Next week the NZ employment numbers on Thursday will be the focus. The ECB monetary policy announcement later on Thursday, will also be closely watched. Any new ECB liquidity initiatives will be reacted to, but the primary focus remains on the Greek debt negotiations. Obviously current levels represent great value buying of EURO with NZD, irrespective of further moves higher.  
 
The current interbank midrate is:                                                            NZDEUR .6334                               EURNZD 1.5788
                                                               
The interbank range so far this week to date has been:                 NZDEUR .6213 - .6357                EURNZD 1.5731 – 1.6095
 

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