The British Pound (GBP) broke past channel resistance at 2.1560 (0.4640) against the New Zealand Dollar (NZD) midweek before going on to post a 4-week high of 2.1750 (0.4600) earlier this morning. The Pound may struggle in the run up to resistance at 2.1840 (0.4580) over the following few days. With no tier 1 data on the schedule through to next Friday’s UK GDP we see further strength in the GBP developing.
The current interbank midrate is: NZDGBP 0.4610 GBPNZD 2.1691
The interbank range this week has been: NZDGBP 0.4599- 0.4657 GBPNZD 2.1472- 2.1742