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What has moved the New Zealand dollar against the Australian dollar?

Written by Sam Coxhead on September 22nd, 2011.      0 comments

2:25 PM (NZT) The NZD against the AUD:
This week has been an interesting one for this pair. Up until yesterday the NZD was putting pressure on the AUD. This was probably due to the fact that when the general market risk aversion began to pick up, the AUD was the more obvious of the two to sell by investors. Today’s worse than expected NZ GDP number put paid to the NZD strength. The pair could not consolidate above the .8050 (1.2425) level and this level remains resistance. So we are back in very familiar space at the current rate of .7940. Possibly adding some level of support for the AUD was confirmation that the US brewing company SAB Miller is buying the Fosters Group for in excess of 12 billion US dollars. For the remainder of the week, the pair should be fairly stable, and will comfortably trade in the .7850-.8050 range.
 
The current Interbank price NZD/AUD (AUD/NZD) : .7940 (1.2594)
 
The Interbank range so far this week NZD/AUD (AUD/NZD)  : .7925/.8084 (1.2370/1.2618)
 

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