FX News

NZD/GBP Transfer

The New Zealand Dollar has outperformed the English Pound (GBP) 3 weeks straight from the yearly low at (0.4705) 2.1257 to trade to 0.4840 (2.0650) late in the week. Into Tuesday we have seen a little weakness in the kiwi with prices back around 0.4810 (2.0800) level. It’s a busy economic docket this week for the pair with RBNZ Wednesday before UK CPI. We don’t expect any change from 5.5% but the rhetoric around timing of cuts could be interesting. UK inflation year on year is expected to come in at 2.1% from 3.2% which will set the tone for the upcoming rate release and a potential cut in the mid-June central bank rate publication. We think a retest at 0.4785 (2.0900) looks possible.

Current Level: 0.44803
Resistance: 0.4840
Support: 0.4785
Last Weeks Range: 0.4786- 0.4842

Previous ArticleNext Article