The New Zealand Dollar (NZD) made its way to 0.4935 (2.0270) Wednesday against the British Pound (GBP) but failed to hold this area. The risk tone took a turn as US CPI released, and the greenback rallied. This in turn sent “risk crosses reeling across the board, the kiwi no exception, giving back gains to reach 0.4865 (2.0550) into Friday. UK GDP came in at 0.2% for the month of August after a drop of -0.6% in July with growth in all sectors contributing, the news helping the GBP.
The current interbank midrate is: NZDGBP 0.4860 GBPNZD 2.0576
The interbank range this week has been: NZDGBP 0.4861- 0.4933 GBPNZD 2.0271- 2.0569