The New Zealand Dollar (NZD) British Pound (GBP) rambled around 0.4890 (2.0450) throughout the week, with no data publishing not really going anywhere. Recent momentum from the reversal at 0.4640 (2.1550) on hold while the cross contemplates its next direction. Resistance awaits around the 0.4910 (2.0380) mark, we don’t expect the pair to retest this area. On the docket next week is the NZ Cash rate and policy statement with no shift from 5.50% expected.
The current interbank midrate is: NZDGBP 0.4884 GBPNZD 2.0475
The interbank range this week has been: NZDGBP 0.4871- 0.4903 GBPNZD 2.0395- 2.0526