FX News

NZD/GBP Transfer

The GBP has been under pressure due to the rising reserve, although the cross remains relatively stable. The UK is experiencing recessionary economic conditions, as in Europe, but this has been accompanied by higher inflation that remains persistent. The Bank of England will keep interest rates ‘higher for longer’ in order to combat the destructive inflation. This may lend short-term support to the GBP.

Current Level: 0.4850
Resistance: 0.4900
Support: 0.4810
Last Weeks Range: 0.4806 – 0.4883

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