The New Zealand Dollar (NZD) has extended moves higher against the British Pound (GBP) Monday reaching 0.4900 (2.0400) before drifting back to 0.4885 (2.0470) this morning. UK house prices rose further than expected while UK manufacturing also came in hot, both strengthening the Pound for short periods. Governor Bailey speaks Thursday. On the chart the kiwi eyes 0.4930 (2.0285) the high of early October, the kiwi should be well supported on dips in the run up.
The current interbank midrate is: NZDGBP 0.4877 GBPNZD 2.0504
The interbank range this week has been: NZDGBP 0.4874- 0.4904 GBPNZD 2.0388- 2.0515