New Zealand Dollar: In the absence of any local economic data on Monday, the New Zealand Dollar traded in a subdued fashion compared to recent sessions hovering around the US70 cent mark. Support for the local unit came in the form of market speculation that members of the Eurozone were working on a proposal to support Greece get through their sovereign debt concerns. The kiwi opens today at 0.7010 after moving between a low of 0.6990 and a high of 0.7036 during offshore trade.
- I expect a range today in the NZD/USD rate of 0.6960 to 0.7035
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