Buying New Zealand Dollar exchange rates have seen an improvement this morning, though only marginal. It seems that exchange rates are now exhibiting some traditional volatility heading into the weekend.
On Fridays, and even more noticeably the end of the month, you tend to see higher volatility in a marketplace which is not being governed by political or economic events.
This is due to companies rearranging their funds for a new week of business, as well as the phenomenon of profit-taking in the currency markets.
The speculators at high street institutions who are the ones who move the currency values large enough to cause severe shifts in the online interbank rate, traditionally work to consolidate their profits from the week or month during these quieter Friday trading hours.
As such significant movements can occur without much justification for such a move being apparent in either economic data releases, or in the political arena.
There will however, be further movement later this afternoon UK time with the release of US retail sales figures. With the US being the world’s largest economy, and their own retail sales a good measure for global demand, it is expected that these figures will be causing a stir.
Frankly, the rates of exchange will more likely be moving in the favour of NZD sellers off the back of the news, as poor global demand normally results in a rise in value for riskier currencies, whose high interest returns look pleasing.
I strongly recommend that anyone with a GBP/NZD currency requirements should contact me on 01494 787 478 and ask the reception team for Joshua to discuss a strategy for your transfer to maximise your currency return.
I have never had an issue beating the rates of exchange offered elsewhere. [email protected]