The New Zealand Dollar (NZD) has been one of the strongest currencies over the week, rebounding off the weekly close at 0.4740 (2.1090) it has regained losses to reach 0.4770 (2.0960) against the British Pound (GBP). We have no news published to report on this week with all eyes on next week’s RBNZ meeting with no change predicted yet from 5.50%. Trend in the pair is still to the downside with price locked into a bear channel from the high at 0.4900 (2.0400) from late February. A move above prior resistance at 0.4780 (2.0910) could highlight a momentum shift for the kiwi.
The current interbank midrate is: NZDGBP 0.4764 GBPNZD 2.0990
The interbank range this week has been: NZDGBP 0.4730- 0.4775 GBPNZD 2.0942- 2.1138