The New Zealand Dollar (NZD), British Pound (GBP) has consolidated around 0.4810 (2.0800) levels this week but falling into Friday to 0.4790 (2.0830) after a bout of “risk aversion” overnight in equity markets. UK GDP came in bang on expectation at 0.20% for the month of January better than December’s -0.1% showing the country could be making progress out of the doom and gloom. Momentum suggests we could see further moves to the downside towards support at 0.4780 (2.0920)
The current interbank midrate is: NZDGBP 0.4802 GBPNZD 2.0824
The interbank range this week has been: NZDGBP 0.4801- 0.4831 GBPNZD 2.0698- 2.0828