The 2024 average rate in the NZD/GBP cross is 0.4744.
The New Zealand Dollar (NZD) found interest late last week clawing back losses from 0.4525 (2.2090) to 0.4580 (2.1840) early this week but has not been able to extend off this area dropping back to the 0.4525 (2.2090) this morning. Central bank divergence again affecting this pair with the Bank of England (BoE) expected to hold interest rates tomorrow at 4.75% while the NZ economy wrestles with a new recession and at least a 50-point cut come Feb 19th next year. Also adding weight to a heavy kiwi is the prospect GDP numbers release tomorrow at -0.2% for the third quarter.
Current Level: 0.4525
Resistance: 0.4810
Support: 0.4385
Last Weeks Range: 0.4525- 0.4605