The British Pound (GBP) retreated overnight on fresh greenback strength, the New Zealand Dollar (NZD) finding support tracking to 0.4730 (2.1150) a 4-week high. The Bank of England looks increasingly likely to hold their cash rate in November based on comments by Bailey, saying rates are nearing the peak. Analysts are predicting however that the central bank will raise in September by 25 points for the last time. We still expect the NZD to weaken further over the mid-term and retest the prior low at 0.4630 (2.1590)
The current interbank midrate is: NZDGBP 0.4714 GBPNZD 2.1213
The interbank range this week has been: NZDGBP 0.4670- 0.4729 GBPNZD 2.1144- 2.1413