FX News

NZD/GBP Transfer

The New Zealand Dollar (NZD) pushed its way past resistance at 0.4840 (2.0660) this week against the British Pound (GBP) on its way to post 0.4855 (2.0600) in early Friday. The first time in 14 weeks (late Feb) we have seen these prices in the cross. UK construction rose in May, the index reporting 54.7 vs 52.5 expected, the biggest increase in activity in two years. Nevertheless, the UK economy is contracting at a rapid rate with worrying times ahead. We could see further upside in the NZD towards 0.4870 (2.0530) where heavy resistance sits.

The current interbank midrate is: NZDGBP 0.4839 GBPNZD 2.0665

The interbank range this week has been: NZDGBP 2.0605- 2.0757 GBPNZD 0.4817- 0.4853

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