New Zealand Dollar buying rates are oscillating around the 2.0 mark as markets are poised for the final week preceding the Referendum vote and its results the following day.
We are still very close to 13 month highs for selling New Zealand Dollars, and unless the Remain camp claw back some of their losses in the polls from the past three weeks, this may be tested once more.
As a final note before we enter the final week preceding the Referendum, I think anyone engaging in any currency pairing surrounding the Pound should be aware of the potential outcomes and their ramifications.
If we decide to to Leave, the Pound will more likely than not, lose value to the benefit of New Zealand Dollar sellers. But NZD sellers should have realistic expectations. The Pound may fall, however, a Vote out is not an immediate process, and will start a two-year long ordeal. So do not expect a sudden 20 cent drop on GBP/NZD.
If we decided to stay then much of the weakness which has been priced into the Pound since the beginning of the year will likely shift, and the euphoria could yield dramatic results. Two weeks ago when a remain vote seemed likely GBP/NZD was up at 2.2.
In the run up to the vote, however, unless the remain camp claws back their lead, its likely the Leave vote will provide better selling opportunities for NZD holders.
I strongly recommend that anyone with a NZD selling requirement should contact me on [email protected] to discuss a strategy for your transfer in order to maximise your currency return. I have never had an issue beating the rates of exchange offered elsewhere, and I offer a very proactive service to ensure that you are are kept up to date with all information to assist you in timing your transfer.