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The YEN again takes back some ground against the NZD.

Written by Sam Coxhead on March 30th, 2012.      0 comments

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              
 

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