FX News

NZD/GBP Transfer:

The New Zealand Dollar (NZD) came off the April 2020 low late last week at 0.4820 (2.0740) pushing back to 0.4900 (2.0400) resistance levels before giving back gains to 0.4860 (2.0580) into Thursday in volatile conditions. UK construction came in above expectation with the strongest rise in orders since April 2022, meanwhile the housing slump is the worst since May 2020. Recent GBP gains clearly reflect interest rate moves and expectations due to extremely high inflationary pressures. A UK recession fears however have the potential to overwhelm the Pound, especially in the later part of the year as data prints poor, stressing market sentiment. Clients selling GBP should consider anything at these levels.

The current interbank midrate is: NZDGBP 0.4860 GBPNZD 2.0576
The interbank range this week has been: NZDGBP 0.4850- 0.4904 GBPNZD 2.0389- 2.0615

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