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The NZD to EURO sees contained range this week.

Written by Sam Coxhead on April 5th, 2012.      0 comments

3:48 PM (NZT) This week has seen grinding appreciation from the NZD over the EUR. Far from being any kind of outright NZ dollar strength, the move has come from a slow and slight decay in confidence in Europe. The range has been relatively small and the NZD appreciation has mostly come in the face of falling global stock markets. Spain is the current victim of a loss of confidence. Next week will see the lead coming from similar places with a lack of meaningful economic data in New Zealand. Expect the range bound nature of the pairing to continue in the short term within the wider recent range of .6100 - .6300(1.5875 - 1.6300) throughout the course of next week.
 
The current interbank midrate is:                                                            NZDEUR .6206                              EURNZD 1.6113
                                                               
The interbank range so far this week to date has been:                 NZDEUR .6141 - .6206                EURNZD 1.6113 - 1.6283
 

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