The New Zealand Dollar (NZD), Australian Dollar (AUD) has held around 0.9150 over the past couple of days, the kiwi looking generally sad as it has declined further over the week from 0.9191 (1.0880) , the 6th week straight. Precious metal prices have boosted the AUD this week, especially copper. Commodity buyers seem more concerned about inflation risk than growth which should keep commodity prices buoyant supporting the AUD. Next week’s RBNZ meeting comes into focus with no shift from 5.5% expected. An upbeat RBNZ governor could send the kiwi lower.
The current interbank midrate is: NZDAUD 0.9144 AUDNZD 1.0923
The interbank range this week has been: NZDAUD 0.9128- 0.9272 AUDNZD 1.0784- 1.0955