FX News

NZD/GBP Transfer

The New Zealand Dollar NZD) extended its mid-week comeback against the British Pound (GBP) coming off 0.4705 (2.1250) to post 0.4760 (2.1000). We suggested we may see a come back of sorts late in the week but not to this extent. Earlier NZ employment data showed a further softening to the job’s market in the first quarter of 2024 with the unemployment rate rising to 4.3% from 4.0%, in line with the RBNZ’s forecast and won’t offer anything new for the RBNZ guidance. On the calendar- Next week’s Bank of England (BoE) official rate announcement is predicted to stay unchanged at 5.25%.

The current interbank midrate is: NZDGBP 0.4754 GBPNZD 2.1034

The interbank range this week has been: NZDGBP 0.4704- 0.4773 GBPNZD 2.0951- 2.1258

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