The UK economy has been showing signs of life, since the new Labour Government has assumed power, but much of this is unfolding historical data from the previous Governments economic settings. The UK has slammed the economy with a ‘tax and spend’ budget, which is starting to bear fruit, with GDP numbers contracting, once again. The green-shoots have been nipped in the bud. UK CPI will be released this coming week and if this rises, then the spending portion of the budget, will have unleashed inflation once again. The cross rate with the NZD Dollar has been steady, as falls have been similar in size.
The current interbank midrate is: NZDGBP .4650 GBPNZD 2.1505
The interbank range this week has been: NZDGBP .4595-.4650 GBPNZD