The New Zealand Dollar (NZD) has pushed past resistance at 0.4900 (2.0400) against the British Pound (GBP) Monday on its way to clock 0.4920 (2.0320) as we head into Tuesday trading. A move through 0.4935 (2.0270) could signal further support in the kiwi all the way to 2/1 (0.5000). With the British economy now slowing based on rising interest rates having an effect on the economy, employment is expected to also rise thus we see further hikes from the Bank of England unlikely. With predicted rises in NZ inflation this has opened the door for another RBNZ hike and upside for the NZD.
Current Level: 2.0308
Last Weeks Range: 2.0287- 2.0583