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Whats pushing the NZD lower against the Australian dollar?

Written by Sam Coxhead on November 18th, 2011.      0 comments

4:06 PM (NZT) The NZ dollar has remained under pressure from the Australian dollar this week. The continued pressure has been backed up by the movement lower of the NZ interest rate curve since the roll off of the November 2011 NZ Government Bond. This large issue will be effecting both markets as some funds are moved off shore and some remain looking for a home along the NZ interest rate curve. Whilst moves lower from the NZD cannot be ruled out , the current levels represent good value buying of NZD with AUD. Next week the primary focus from the economic data perspective will be the release of the RBNZ’s Survey of inflation expectations on Tuesday. The placement of the Nov 2011 bond proceeds will also continue next week.
 
The current interbank midrate is:                                                            NZDAUD .7580                               AUDNZD 1.3193
                                                               
The interbank range so far this week to date has been:                 NZDAUD .7552 - 7659                                 AUDNZD 1.3056 – 1.3242
 

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