Since the Brexit vote the pound has fell against the majority of major currencies. The New Zealand Dollar is no different. It is currently one of the best times to sell the kiwi since 2013. The question is,where next?. Post-Brexit data is now starting to filter through and I can foresee negative figures. I think there could be further woes ahead for the Pound. The monetary policy committee (MPC) has stated if data continues to come in poorly we could see a further interest cut to a new record low of 0.05%. Short to Medium term I expect Sterling to fall against the kiwi. It may be wise to take advantage of current levels. Keep an eye out for UK PMI data on Thursday and Friday which could cause volatility on GBP/NZD.
If you have a currency trade it is crucial to be in touch with an experienced broker. The timing of your trade is vital during such a volatile times, If you have a veteran broker by your side he can keep you up to date with any movements in the market to help you make an informed decision when the time comes. If you would like me to assist with your trade I will be happy to help. If you let me know the currency pair you are trading, volume and time scale and I will provide a free individual trading strategy. I work for one of the top brokerages in the country and by doing so I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 3-4% saving in comparison to high street banks. Please do get in touch by contacting me at [email protected]. Thank you for reading my blog and I look forward to being of assistance.