Rates for GBP NZD have fallen this week although this is largely a sterling story as the pound has fallen across the board. Recent polls for the EU referendum this week have put the Leave campaign marginally ahead whilst another poll yesterday has put both campaigns neck and neck. As we approach 23rd June, polls likes this are only likely to put more even more pressure on the pound. Rates for GBP NZD should have further to fall so anyone selling New Zealand dollars should still see some better opportunities to buy pound. A spike in dairy prices has however also helped the dollar strengthen which may help the dollar rally further
With no economic releases of note from New Zealand as we end the week then eyes look to the New Zealand interest rate decision next Wednesday where high volatility is to be expected. Considering the recent cut in interest rates in Australia which surprised the markets then I wouldn’t rule anything out. However the general feeling is that further interest rate cuts will happen a little later on this year.
If you have an upcoming GBP or NZD currency requirement either buying or selling and would like to be kept up to date with key market movements, or simply wish to compare our award winning exchange rates then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively you can email me directly at [email protected]