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The Pound Sterling looking stronger against the NZ dollar

Written by Sam Coxhead on December 16th, 2011.      0 comments

4:30 PM (NZT) The NZD has been under pressure from the GBP this week, in line with the wider market risk aversion. In the absence of any local NZ economic data the lead was almost entirely taken from the wider market sentiment. .4750 (2.1050) remains the crucial NZD support levels that need to be broken in order for a fully fledged move lower from the NZD. Given where the pair has been through most of 2011, current levels represent reasonable value buying of NZ dollars with GBP. Next week the NZ GDP number on Thursday is going to be economic focus in NZ. In the UK only the BOE monetary policy meeting minutes are of significance. Overall this pair should continue to move around in these recently familiar ranges for the rest of 2011.
 
The current interbank midrate is:                                                            NZDGBP .4870                               GBPNZD 2.0534
                                                               
The interbank range so far this week to date has been:                 NZDGBP .4826 - .4952                GBPNZD 2.0194 – 2.0721
 

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