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The NZDGBP pair treads water

Written by Sam Coxhead on December 23rd, 2011.      0 comments

10:15 AM (NZT) This pairing has been relatively stable this week. The resurgence of risk appetite has seen the NZD make up a little ground, but the pair remains in very familiar territory. Expect initial resistance at .4950 (GBPNZD support 2.0200) and this will likely hold ahead of the Christmas break. There is little economic data ahead of January to moves the rates too far, so expect that we start 2012 around similar levels. The rumours remain that credit agencies remain poised to downgrade further European sovereign entities, and this would be NZD negative if this eventuates.
 
The current interbank midrate is:                                                            NZDGBP .4927                              GBPNZD 2.0296
                                                               
The interbank range so far this week to date has been:                 NZDEUR .4864 - .4946                GBPNZD 2.0218 – 2.059
 

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