It’s been a bit of a nothing week for the British Pound (GBP), New Zealand Dollar (NZD) with not a lot to report data wise. The GBP recovered off 0.5320 (1.8800) levels to 0.5235 (1.9100) and came into Friday around 0.5265 (1.9000) on the news the Queen had died. Very sad. Against the US Dollar the Pound has dropped to its lowest level of 1.14 since 1985 after the GBP came under pressure from dovish remarks made by BoE speakers and criticism around the proposed energy bill plan. Next week’s UK CPI y/y and Bank of England official cash rate should give us excitement with predictions of a hike of 50 points to 2.25%
Exchange Rates:
The current interbank midrate is: NZDGBP 0.5266 GBPNZD 1.8989
The interbank range this week has been: NZDGBP 0.5230- 0.5323 GBPNZD 1.8784- 1.9120