Risk tone supported the New Zealand Dollar (NZD) to late Wednesday’s 0.4730 (2.1145) against the British Pound (GBP) before pulling back to 0.4680 (2.1360) early Friday. NZ Retail Sales came in light at -1.2% for the month of June vs forecasts of -1.0% and down on May’s 0.5%. UK Manufacturing has showed promising signs with the sector expanding in August with an uptick in new orders and activity. This marks the 4th consecutive rise and the fastest pace in over 2 years. Fib setups suggest we could see a retest of the 0.4715 (2.12) area in the coming days.
The current interbank midrate is: NZDGBP 0.4692 GBPNZD 2.1312
The interbank range this week has been: NZDGBP 0.4673- 0.4730 GBPNZD 2.1141- 2.1395