FX News

NZD/GBP Transfer:

The British Pound (GBP) was bid Monday reversing some of the previous week losses as it reached 1.9445 (0.5140) against the New Zealand Dollar (NZD) The Bank of England (BoE) are expected to keep raising rates to combat inflation as GDP forecasts for the following couple of years worsen. The UK economy is expected to contract 1.6% in 2033 and a 0.5% in 2024 as citizens brace for a massive cost of living squeeze. Looking ahead we have UK m/m GDP Friday. We expect the kiwi to kick on towards the weekly close.

Current Level: 0.5173 (1.9331)
Resistance: 0.5235 (1.9640)
Support: 0.5090 (1.9100)
Last Weeks Range: 0.5002-0.5232 (1.9110-1.9989)

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