Nzd.usd

[arco]

Hey Roddy

Thats what I call a 'Drop Leg' Butterfly.
They do appear occasionally. Sometimes they
work - sometimes they don't.............

regards - arco

[roddy]

hi Arco
seems like a good name Drop Leg,
describes my trading at times!,as in
sometimes works - somtimes doesnt

regards
roddy

[arco]

Strong move overnight....

.........onwards and upward towards 7890 perhaps

Good Weekend All - arco

[The Plunger]

What's happened to the dollar in the last few minutes, down a cent against most others.

[slam]

quote:Originally posted by The Plunger


What's happened to the dollar in the last few minutes, down a cent against most others.

Sydney, June 11: the RBNZ confirmed that they have intervened saying that current levels of the NZD are "exceptional" and "unjustified". They added that the intervention doesn"t prejudge future direction of monetary policy.

Cheers
Slam

[arco]

Anyone a contrarian.........maybe try a quick buy
(even if its a dead cat bounce)

[slam]

I'm with you arco
I think the RBNZ will have there work cut out on this one.

Cheers
Slam

[arco]

Hi All

Can the RBNZ beat down this Butterfly?

.............only time will tell



regards - arco

Ms Gann says. Bit of a bounce at 7403 perhaps.

[arco]

Mmmm....another large injection required perhaps......

[arco]

quote:

New Zealand Dollar declined ignoring RBNZ first intervention in 22 years


The Dollar rallied to a 3 ½ month high against the Swiss franc on Monday, with US 10-year Treasury yields over 5% and investors largely ignoring the New Zealand central bank's first market intervention in 22 years. The NzdUsd posted its largest decline in 15 months after the Reserve Bank of New Zealand sold its own currency, but there was only limited impact on carry trades in which investors buy high-yielding currencies like the New Zealand funded by borrowing low-cost currencies such as the Swiss Franc or the Japanese Yen. The RBNZ intervention to curb the NZD came four days after the central bank surprised markets by raising its key interest rate to 8%, the highest benchmark rate in the industrialized world.

Despite RBNZ intervention, key daily chart support for NZD/USD at 0.7470 held firm, and the RBNZ's inability to make the NZD technically weaker could undermine their credibility. The 'failure' of yesterday's intervention to technically break down the NZD raises the possibility that the RBNZ may intervene again to try and do some more damage.

With no major US economic data on Monday, dealers kept liquid currencies, other than the New Zealand Dollar, in narrow ranges, waiting for the may US retail sales report on Wednesday.