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The NZD moves higher against the YEN ahead of the BOJ next week.

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

4:09 PM (NZT) The NZ dollar has been in demand against the YEN for the most part this week. The 65.50 level provided some initial resistance, but the subsequent push following the RBNZ monetary policy announcement yesterday was enough to jet son the pair beyond 66.00. Tentatively I would say that current levels represent good value buying of YEN with NZ dollars, but ahead of the a big BOJ decision next week , this would be brave. For large transfers, dollar cost averaging would be appropriate. The BOJ meeting represents the sole event focus for the pair next week. A further fall on global equity markets will likely curb any further enthusiasm to push the NZD higher ahead of the BOJ.
 
The current interbank midrate is:                                                  NZDJPY 65.72 
                                                                                         
The interbank range so far this week to date has been:       NZDJPY 64.54 – 66.18
Topics: NZD JPY YEN
 

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