FX News

NZD/GBP Transfer

The New Zealand Dollar (NZD) has bounced back from 0.4855 (2.0590) early in the week against the British Pound (GBP) to reach 0.4910 (2.0360) this morning in light trade. UK PMI data saw a downtick of output for the third consecutive quarter in November led by a fall in residential buildings putting pressure on the GBP post release. Markets are starting to price in rate cuts – 3 by the end of 2024 depending on how inflation performs. Next week we have NZ 3rd quarter GDP before the Bank of England’s cash rate announcement.

The current interbank midrate is: NZDGBP 0.4896 GBPNZD 2.0424

The interbank range this week has been: NZDGBP 0.4856- 0.4911 GBPNZD 2.0361- 2.0592

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