The Bank of England has been very hawkish in their approach to interest rates, holding them at high levels, despite precipitous falls in their inflation levels. This has ensured the strength of the GBP against the NZD, which has weakened from highs of just below 0.5000, to be trading around 0.4800 v the NZD. This downside bias is likely to continue into the near future, as the GBP remains supported by their Central Bank policy.
The current interbank midrate is: NZDGBP .4822 GBPNZD 2.0738
The interbank range this week has been: NZDGBP .4802 – .4898 GBPNZD 2.0416 – 2.0821