NZD/AUD Transfer
The NZD/AUD rate bounced back above 0.9200 briefly, following the expected interest rate cut from the RBA. The RBA cut rates by 25 basis points, as expected, but markets did not resist opportunity for selling the currency. Australian interest rates remain relatively high, compared to other Western economies, so the interest rate differential, will support the currency. Late in the week we find the cross back below .9200 at .9170 as the stronger USD worldwide dominates.
The current interbank midrate is: NZDAUD .9203 AUDNZD 1.0870
The interbank range this week has been: NZDAUD .9165 – .9225 AUDNZD 1.0825 – 1.0905
