FX News

NZD/GBP Conversion:

UK inflation printed at 9.1% as predicted last week amid soaring food and energy prices as the cost of living toughens. The New Zealand Dollar (NZD) posted a fresh low of 0.5100 (1.9620) against the British Pound (GBP) before losing ground towards the week closing around 0.5150 (1.9430). The Bank of England cash rate sits at 1.25% a 13-year high and is predicted to rise further as CPI expectations climb towards 11% forecasts by October. Speeches by the ECB Wednesday could create volatility especially if they speak of upcoming rate rise predictions. With risk factors globally remaining dire we expect the cross to retest 0.5085 (1.9670) the March 2022 low.

Current Level: 0.5130 (1.9493)
Resistance: 0.5185 (1.9630)
Support: 0.5095 (1.9280)
Last Weeks Range: 0.5095-0.5210 (1.9191-1.9625)

Previous ArticleNext Article