Thin data this week in the English Pound (GBP), New Zealand Dollar (NZD) has seen the cross remain in its sideways pattern. Edging higher off the open of 0.5216 (1.9170) to 0.5268 (1.8980) areas Friday confirming the slow week. Talk of a crumbling UK economy with inflation occupying headlines and predictions we may see it as high as 22% a post was record are concerning, especially if we see the wholesale price of electricity and gas continues to spiral over the UK winter. Next week’s economic docket also looks nude with only the Bank of England Policy Report Hearings to release. The GBP is in serious trouble if the above becomes a reality- the UK economic forecast has recently been downgraded. Selling GBP around current levels may look extremely attractive in a few months’ time. Consider.
The current interbank midrate is: NZDGBP 0.5263 GBPNZD 1.9000
The interbank range this week has been: NZDGBP 0.5223- 0.5294 GBPNZD 1.8888- 1.9143