The Euro (EUR) pushed through to 0.6035 (1.6570) Thursday against the New Zealand Dollar (NZD) extending its run off 0.6170 (1.6200) Monday better bid based on a risk off sentiment and the ECB raising rates. The ECB has joined other central banks in raising cash rates 75 points in one hit, the ECB overnight hiking to 1.25%. They have signalled further hikes but will weigh up how much based on prospects of a recession. The overall situation fundamentally for the EUR will continue to be problematic with the currency staring down a deepening energy disaster.
The current interbank midrate is: NZDEUR 0.6062 EURNZD 1.6496
The interbank range this week has been: NZDEUR 0.6034- 0.6162 EURNZD 1.6226- 1.6572