Chinese Imports grow causing strength for the New Zealand Dollar vs Sterling (Tom Holian)

Sterling vs the New Zealand Dollar exchange rates have started to fall recently following the uncertainty surrounding the Brexit vote in the UK.

A fortnight ago we saw a 4 month high for GBPNZD rates as the opinion polls showed the Remain camp firmly in the lead.

However, since then we have seen the Leave camp go into the lead according to polls published by the Guardian and Telegraph newspaper.

Chinese import data published a few hours ago showed levels much better than expected and as China trades heavily with both Australia and New Zealand this good news has helped to strengthen the NZD vs Sterling.

The Reserve Bank of New Zealand are due to meet tonight to decide their next interest rate decision and although no change is expected if we see any hints of an interest rate cut coming in the near future this could cause weakness for the New Zealand Dollar.

Therefore, potentially good news if you need to send money to New Zealand by converting Sterling.

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]