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Interbank Market rate - NZD/USD

Bid Ask
12:44 p.m.
0.7666 / 0.7670
Low High
24h 0.7626 - 0.7694
Week 0.7626 - 0.7900

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Daily Commentary

Thursday, 17 May 2012

Michael Judge

New Zealand Dollar:

The New Zealand Dollar fell to a five-month low against its US Counterpart yesterday as investor’s appetite for risk remained subdued. With the European Central Bank announcing overnight that they will temporary stop lending to Greece’s banks, the Kiwi was sold to an overnight low of 0.7687. In what has been tumultuous week for the New Zealand Dollar, the fact Greece’s three main political parties have been unable to reach any sort of agreement since elections on May 6, shows any type of solution remains a while off. Receiving only a modest boost from better than expected Industrial Production figures out of the US as well as relatively bearish Federal Reserve Minutes the New Zealand dollar opens this morning close to a full cent weaker at a rate of 0.7687.

We expect a range today of 0.7630 – 0.7730

Australian Dollar:

Despite consumer confidence which posted a modest rise 0.8 percent for May the Australian dollar was sold off for much of yesterday’s local session with ongoing fears surrounding Greek elections sapping the life out of the local unit. Initially trading to late afternoon low of 0.9869 there was some ... read more


Forex news

Aussie, NZ dlrs off lows, still tense on Greek jitters

Thursday, 17 May 2012
The Australian and New Zealand dollars bounced off five month-lows on Thursday, but looked vulnerable to more risk avoidance as fears that Greece may yet be forced out of the euro zone showed no sign of abating. read more

Aussie, NZ dlrs hit 5-mth lows on Greek jitters

Thursday, 17 May 2012
The Australian and New Zealand dollars fell again on Wednesday, reaching fresh five-month lows against the greenback on fears that Greece was moving a step closer to a messy exit from the euro zone. read more

Aussie, NZ dlrs extend losses on Greece worries

Thursday, 17 May 2012
The Australian and New Zealand dollars hit five-month lows on Wednesday, as investors sought safety with Greece heading to fresh elections, raising the risk it may leave the euro zone. The Aussie sits at $0. read more

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