The Brexit vote saw Sterling plummet in value. Economists predicted further drops in the pounds value when UK data filtered through. It was surprising to see a lot of the figures come in above expectations, Sterling rallied as a result. It seems the attitude of the British to keep calm and carry on is coming to halt as data released this month has mainly been negative, particularly retail sales and we have seen Sterling again start to fall.
Although I feel the pound may weaken short term, I do think Sterling will recover against the New Zealand Dollar but it will be a slow recovery. Trade negotiations post -brexit will be long and arduous so do not expect 2.20 anytime soon.
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