GBP/NZD rate continues to climb even though Sterling is weakening! (Joshua Privett)

Sterling is currently taking severe hits on the markets as a result of the recent flooding in the United Kingdom combined with further rumours of a potential ‘Brexit’.

Yet still GBP/NZD rates continue to climb, suggesting that whilst Sterling is weakening, the New Zealand Dollar is weakening more.

Recent news out of China is continuing to see a fall in exchange rates govern the financial markets. With New Zealand and Australia dependent upon China as a source of income from exports, the news is causing severe weakness in the antipodean currencies. This is a very similar phenomenon to what we saw in October.

If you have a currency exchange and you wish to save money against your bank on you transfer email me on [email protected] over the weekend to discuss your requirement. I can outline a strategy on how to approach this currently volatile market in order to maximize your currency return.