The New Zealand Dollar (NZD) extended gains Thursday to reach 0.5096 (1.9620) in early Friday trading matching the late December high. Business Confidence turned in poor as well as Building Permits making the kiwi sluggish for a while but with sentiment generally supporting risk currencies there is not stopping it. The Sterling is on course for its 9th consecutive daily decline but massive long term resistance at 0.5510 (1.8150) could unravel its momentum. Data is thin over the next few days, we expect a push back from the GBP in the coming days and a retest of 1.8400 (0.5430)
Exchange Rates:
The current interbank midrate is: NZDGBP 0.5093 GBPNZD 1.9634
The interbank range this week has been: NZDGBP 0.5005- 0.5100 GBPNZD 1.9604- 1.9998