Sterling has fell considerably against most major currencies after the Brexit vote. The majority of UK data releases have been negative and the pound has suffered as a result. Unfortunately, I fear worse may be yet to come. There has been very little data that is actually post-brexit, most of the data that has appeared so far is for June. We will see UK Retail sales data released on Thursday at 09.30 and I would expect to see a decline which could cause the pound to fall further against the New Zealand dollar. If you have a NZD requirement I think it may be wise to move sooner rather than later. Keep in mind if UK data continues to come in poorly, Ian McCafferty of the monetary policy committee (MPC) has indicated further changes in monetary policy could be on the cards and that means real trouble for Sterling.
If you have a currency requirement it is vital to be in touch with an experienced broker. The timing of your trade is key during such a volatile times, If you have a veteran broker on board he can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to help with your trade I will be happy to help. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 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.