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The NZDAUD pair continues its sharp moves this week.

Written by Sam Coxhead on October 26th, 2012.      0 comments

2:32 PM (NZT) This week this normally passive pairing has continued its recent penchant for sharp moves. The Australian inflation number saw the NZ dollar under immediate pressure as the odds of more than 25pts of easing from the RBA were pared back. Then came the RBNZ monetary policy announcement and in the absence of any hint as a lower NZ cash rate, the NZ dollar took back a chunk of its recent losses. This morning’s speech from RBNZ Governor Wheeler provided further uncertainty for the edgy investor market, and the NZD saw a renewal of pressure before stabilising at levels that offer reasonably fair value. Expect less volatility next week, as the pair should again settle back down into a relatively subdued pattern with .7880 - .7980 (1.2530 – 1.2700) likely to contain the action.
 
The current interbank midrate is:                                                  NZDAUD .7913               AUDNZD 1.2637
                                                                                         
The interbank range so far this week to date has been:                 NZDAUD .7866 - .7940    AUDNZD 1.2594 - 1.2713
Topics: NZD AUD
 

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