FX News

NZD/GBP Transfer:

UK inflation remains one of the highest in the Western world and compelled the Bank of England to continue to raise rates. The aggressive monetary policy has lent support to the currency allowing trade around 1.2500 in recent times. The cross rate remains down at around 0.4900. PMI data out during the week may influence the progress of the GBP, while local NZD support will be determined by other Central Bank decisions and US employment data, driving risk appetite. Watch the ECB rate rise and the impact on the ‘single currency’, to impact the NZD cross adversely.

Current Level: 0.4940 (2.0240)
Resistance: 0.5000 (2.000)
Support: 0.4900 (2.040)

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