FX News

GBP/NZD Transfer

The New Zealand Dollar (NZD) strengthened into the weekly close to 0.4870 (2.0530) against the British Pound (GBP) extending gains over the week. NZ Inflation expectations q/q prints today and should give us a look at the next 2 years forecasting. We should see a marked drop well below 2.8%. Midweek’s UK CPI y/y is our key data release with a rise to 4.1% from 4.0% expected which should keep the GBP bid. This could also unsettle the interest rate cut expectations for 2024. The GBP recovered off lows Monday back to 0.4855 (2.06) as it looks to retest 0.4840 (2.0650) areas.

Current Level: 2.0620
Resistance: 2.0900
Support: 2.0400
Last Weeks Range: 2.0501- 2.0847

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