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YEN weakens further against the NZD.

Written by Sam Coxhead on December 14th, 2012.      0 comments

1:46 PM (NZT) The Japanese YEN has continued to underperform against the NZD this week. This structural change towards weakness for the YEN has pushed the NZD to record high levels not seen since late 2008. The week coming is materially important for the future direction of this pair. The election and following BOJ monetary policy meeting will provide intense focus for the market, at a time that that typically offers lower levels of liquidity. The lower levels of liquidity mean that even more extreme moves maybe seen than would normally be experienced. The 3rd quarter NZ GDP number will also be closely watched. It would reasonable to expect the YEN weakness to continue in the short to medium term.
 
The current interbank midrate is:                                                  NZDJPY 70.47 
                                                                                         
The interbank range so far this week to date has been:       NZDJPY 68.44 – 7.55
Topics: NZD YEN JPY
 

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