The New Zealand Dollar (NZD) has largely ignored global tensions developing in the Gaza strip. Monday’s risk markets held the power, the kiwi rallying to 0.5700 (1.7540) this morning from 0.5655 (1.7680) against the Euro (EUR) as US Equities closed up 0.6% in overnight trading. This equals a 12-week high in the cross. Upside moves this week are looking fairly exhausted extending to 0.5715 (1.7500) when considering offshore risks developing.
Current Level: 1.7543
Last Weeks Range: 1.7582 – 1.7821