FX News

GBP/NZD Transfer

The GBP has been under pressure due to the rising reserve, although the cross remains relatively stable. The UK is experiencing recessionary economic conditions, as in Europe, but this has been accompanied by higher inflation that remains persistent. The Bank of England will keep interest rates ‘higher for longer’ in order to combat the destructive inflation. This may lend short-term support to the GBP.

Current Level: 2.0480
Resistance: 2.0815
Support: 2.0455
Last Weeks Range: 2.0473- 2.0805

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