FX News

NZD/GBP Transfer

A rudderless New Zealand Dollar (NZD), British Pound (GBP) made for choppy trading over the week with price not really favouring any one direction. Into Friday the cross hovers around the 0.4824 (2.0730) zone awaiting further clues. UK Manufacturing printed up on expectations overnight confirming a return to business expansion although numbers are still representing a softer long-term view of poor demand in the sector. The GBP spiked in demand on the news from 2.0640 (0.4845) to 2.0760 (0.4820). Looking into next week we have the RBNZ cash rate which will remain unchanged at 5.50%

The current interbank midrate is: NZDGBP 0.4823 GBPNZD 2.0733

The interbank range this week has been: NZDGBP 0.4805- 0.4856 GBPNZD 2.0593- 2.0811

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