It’s been a quiet week in the New Zealand Dollar (NZD), British Pound (GBP) pair with action restricted to recent range bound moves. The kiwi did however take on water overnight rebounding off 0.4800 (2.0840) to 0.4845 (2.0650) as equity markets traded lower impacting risk currencies. Odds are 50/50 for the Bank of England (BoE) to hike a full 50 points at their meeting next week. The downtrend is still intact from the high of 0.4900 (2.0450), the GBP should recover losses into the weekly close.
The current interbank midrate is: NZDGBP 0.4834 GBPNZD 2.0686
The interbank range this week has been: NZDGBP 0.4788- 0.4853 GBPNZD 2.0604- 2.0884