GBP/NZD Where Next? Pound Forecast (Daniel Johnson)

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.

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