Back
22 Sep 2014
NZD/USD catched bid tone on election victory by ruling nationals
FXStreet (Bali) - NZD/USD trades on a firmer tone in the early going of the Asian session following the victory of New Zealand's ruling national party, which guarantees a third consecutive term for incumbent NZ Prime Minister John Key.
The NZD was paid as high as 0.8155 in early NZ markets, moving further away from an 8-month low found last Sept 17 at 0.8076.According to Sean Lee, Founder at FXWW, "there do not seem to have been a large number of stops in the interbank market at least, so it looks as if positioning was reasonably light heading into the risk event."
Technically, Jim Langlands, Founder at FXCharts, notes: "The Kiwi looks a little indecisive, although it will find it hard to make any decent gains if the US dollar continues go from strength to strength."
The NZD was paid as high as 0.8155 in early NZ markets, moving further away from an 8-month low found last Sept 17 at 0.8076.According to Sean Lee, Founder at FXWW, "there do not seem to have been a large number of stops in the interbank market at least, so it looks as if positioning was reasonably light heading into the risk event."
Technically, Jim Langlands, Founder at FXCharts, notes: "The Kiwi looks a little indecisive, although it will find it hard to make any decent gains if the US dollar continues go from strength to strength."