The British Pound (GBP) continues to recede against the New Zealand Dollar (NZD) falling to the long-term price of 0.5330 (1.8770) early Monday. News of the UK govt bail out to subsidise energy consumers is putting the Pound under pressure, the package could exceed 100B with average customers already paying 50% more than in 2021. Households (29m) would have their bill capped at the current level of 1,971.00 pounds, private banks or govt would then fund the shortfall between the retail price and the wholesale price. Power companies would then pay back the fund by charging consumers a levy of sorts over an extended period of time. No data releasing over the week could indicate more GBP exits.
Current Level: 0.5277 (1.8950)
Resistance: 0.5340 (1.9150)
Support: 0.5220 (1.8730)
Last Weeks Range: 0.5224-0.5318 (1.8801-1.9139)