FX News

GBP/NZD Transfer

The New Zealand Dollar (NZD) has dropped to a yearly low of 0.4713 (2.1215) this morning against the English Pound (GBP) breaking through late March daily support at 0.4730 (2.1130). Today’s NZ employment data has shown a further softening to the job’s market in the first quarter of 2024 with the unemployment rate rising to 4.3% from 4.0%, this in line with the RBNZ’s forecast and shouldn’t offer much divergence from forward thinking monetary policy. The cross could be a tad oversold and could reverse somewhat higher over the day.

Current Level: 2.1235
Resistance: 2.1500
Support: 2.0860
Last Weeks Range: 2.0834- 2.1055

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