FX News

NZD/GBP Transfer:

It’s been thin picking of late for economic data in the New Zealand Dollar (NZD), British Pound (GBP) pair since the Bank of England hiked rates recently. GBP demand has been strong with increased hawkishness the central bank will again hike at their 22 June meeting. The New Zealand Dollar (NZD) recovered off 0.4820 (2.0740) to trade back around the 0.4895 (2.0430) mark against the British Pound in early Tuesday. Risk sentiment supporting the kiwi as US equities rallied late last week. All eyes are on both UK and NZ GDP releases this week the NZ economy predicted to formally slip into recession with a print of -0.1% following a -0.6% in the previous quarter.

Current Level: 0.4890 (2.0449)
Resistance: 0.4910 (2.0740)
Support: 0.4820 (2.0380)
Last Weeks Range: 0.4850-0.4904 (2.0389-2.0616)

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