New Zealand Dollar has a positive start to February vs Sterling (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

GBPNZD exchange rates have fallen recently and trading currently at 2.15-2.16 this morning as I write this article.

The Bank of England confirmed yesterday a change in the voting pattern with 8-1 turning into 9-0 in favour of keeping interest rates on hold.

The UK Quarterly Inflation Report which also came out at the same time reinforced the decision to keep interest rates on hold.

Whilst inflation remains as low as it is in the UK at just 0.2% any rise in rates is simply out of the question.

UK interest rates may not even change until 2018 which has caused confidence in the Pound to fall.

This has encouraged global investors to sell Sterling in favour of higher yielding currencies including the NZD which is another reason why GBPNZD rates have moved in a negative direction.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]