GBP/NZD settling following interest rate decision (Joshua Privett)

The Pound is up against most major currencies today following stronger than predicted trade balance figures for the UK economy being released this morning.

The figures show that the deficit for the UK economy has been cut. So the amount we are importing compared to how much we are exporting has been cut.

This is enough to increase confidence in the UK given the fact that a weakening Pound would have made increased exports an un-affordable prospect.

However, one of the few currencies the Pound is down against today is the New Zealand Dollar.

After the mammoth movements yesterday following the cut in interest in New Zealand which had been delayed for a significant period, rates had begun to correct upwards. This is a standard market movement after such severe slides the day before.

The urge to buy New Zealand Dollars at better buying levels creates a surge in demand for NZD, which in turn increases its value.

In these situations it is best to be the first to seize opportunities rather than be the first to miss out when rates start to correct.

I strongly recommend that anyone with a New Zealand Dollar buying requirement should contact me on [email protected] for a free quote on their transfer a personal appraisal of your situation, alongside the best strategy to move forward.