FX News

NZD/GBP Transfer:

The New Zealand Dollar (NZD) is a little stronger off the weekly open against the British Pound (GBP) reaching 0.4860 (2.0570) into Tuesday trading. Generally speaking, a lack of data sees the pair happy to bounce around in recent ranges. Better than expected UK Retail Sales Friday boosted the GBP coming in at 0.3% compared to -0.2% predicted. We still see decent flows in the GBP from last week’s Bank of England hike to 5.00% continuing. The Key standout on the docket this week is the RBNZ “Statement of Intent” Friday. We see a retest of the recent low at 0.4830 (2.0700) a chance this week.

Current Level: 0.4847 (2.0631)
Resistance: 0.4910 (2.0800)
Support: 0.4810 (2.0380)
Last Weeks Range: 0.4808-0.4879 (2.0496-2.0797)

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