This afternoon the High Court in the UK have ruled that Parliament must now vote on whether Theresa May can start the process of invoking Article50. It’s no surprise that the Government will be appealing the decision next month.
The pound gained momentum against all of the major currencies and GBPNZD has risen 0.7% and exchange rates are now back above 1.70. Looking ahead we could have a period of sterling strength against the New Zealand dollar if MPs start to announce they will be voting in favour of remaining part of the EU.
In the background the UK released their latest interest rate decision and the monetary policy committee voted in favour of keeping interest rates on hold at 0.25%. With all 9 members voting in favour of keeping rates on hold this can explain also the reason why sterling has strengthened.
If you are buying or selling New Zealand dollars this week, month or year and I haven’t covered your currency pair I would recommend emailing me with the currency pair (NZDUSD, NZDGBP, NZDAUD) and the reason for the transfer (company goods, property purchase) and I will response with my forecast and the options available to you [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **