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The NZDGBP pair continues to range trade.

Written by Sam Coxhead on November 16th, 2012.      0 comments

2:03 PM (NZT) This pair has continued to trade within its recently familiar range that we have seen for the best part of the last three months. The weak 3rd quarter economic data in NZ is of concern and should cap any real attempts by the NZ dollar to outperform in the short term at least. Expect the current range to continue next week, with .5080 (1.9685) providing the initial target should any further NZD weakness be forth coming. In a nut shell, expect further range trading for the remainder of 2012, with a bias towards a weaker NZ dollar likely to see the pair push down to the lower end of the range.
 
The current interbank midrate is:                                             NZDGBP .5110                       GBPNZD 1.9595
                                                                                         
The interbank range so far this week to date has been:  NZDGBP .5092 - .5165                GBPNZD 1.9361 – 1.9639
Topics: NZD GBP
 

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