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The NZDUSD ahead of a volatile weekend.

Written by Sam Coxhead on June 15th, 2012.      0 comments

:40 PM (NZT) The impact on this currency pair:
After a heavy start to the week, this pair has seen the NZ dollar perform well in somewhat unusual market conditions. As the uncertainty in Europe has increased, the expectations of further central bank stimulus have grown. This has seen the US dollar under pressure and the NZD in demand. Ironically, assisting the move is evidence of investors squaring sold NZD positions ahead of the Greek elections this weekend. The squaring up of positions is normal ahead of event risk such as this. Next week should prove to be equally as interesting as the European issues appear to be coming to a head. Expect volatility to continue in the short term, and under the circumstances, buying US dollars at current values could end up representing reasonable value.
 
The current interbank midrate is:                                                            NZDUSD .7820  
                                                                                         
The interbank range so far this week to date has been:                 NZDUSD .7670 - .7836
Topics: NZD, USD
 

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