4:51 PM (NZT) The NZD initially saw reasonable demand this week. As soon as the equity markets turned the YEN demand increased and it became a dominant theme across the wider financial markets. The pair has bounced nicely off the support at 66.50 for a second week, so this remains the short term target. The topside looks capped at 69.00 in what is quickly becoming an established range. The upper end of this 66.50/69.00 range offers very good value buying of JPY with NZ dollars.
 
The current interbank midrate is:                                                            NZDYEN 67.14                              
                                                               
The interbank range so far this week to date has been:                 NZDYEN 66.55 – 68.55