The New Zealand Dollar (NZD), British Pound (GBP) has consolidated this week around the 0.5265 (1.90) zone with not a lot of action going on. Manufacturing data was poor, the index releasing at 46.0 agst 51.0 predicted with a slowdown in business activity across the sector evident. NZ Retail Sales declined 2.3% against expectations ending the June quarter highlighting a proper drop in spending volumes which will become worse over the coming months. It should be a quiet end to the week’s trading.
The current interbank midrate is: NZDGBP 0.5253 GBPNZD 1.9036
The interbank range this week has been: NZDGBP 0.5227- 0.5293 GBPNZD 1.8891- 1.9129