Big gains in the British Pound (GBP) this week have seen the currency reach 2.2380 (0.4470) in morning trade against the New Zealand Dollar (NZD) not helped by the ANZ Activity outlook ticking down and a serious bout of “risk off” to boot. The cross sits at a key area right now with chances it could clock a fresh new weekly low not seen since early December 2015. The Bank of England (BoE) remained divided over rate cut consensus and the speed of cuts. Cutting 25 points in every quarter over 2025 could till leave the central bank in a compromised “restrictive” position.
The current interbank midrate is: NZDGBP 0.4465 GBPNZD 2.2396
The interbank range this week has been: NZDGBP 0.4464- 0.4557 GBPNZD 2.1940- 2.2397