We saw fairly sharp movements for the New Zealand Dollar over the last few days, most notably following the announcement of Donald Trump winning the U.S Presidential election on Wednesday.
What this led to was the perceived ‘riskier’ currencies losing value immediately as investors looked to move funds into safer havens. As the day progressed the New Zealand Dollar did start to creep back against most majors as the markets started to settle and digest Trump’s initial speech.
Today we have seen the RBNZ cut interest rates to 1.75% from 2% which had actually be widely expected. Comments following the cut did not suggest we would be seeing another change in the immediate future so the rate did not suffer too much impact.
The interest rate in New Zealand is still much more favourable than others around the world so this will keep the NZD fairly strong however the fact that it is slowly creeping down will start to mean less and less investors choose it to park their funds.
If you have New Zealand Dollars to buy or sell in the coming days, weeks or months then it may be prudent to get in contact with me as I can assist you. Having worked in the currency markets for many years I am well p[laced to assist with the timing of your transfer and helping you get the most for your money too.
Feel free to get in touch with me (Daniel Wright) on [email protected] and I will be more than happy to get in contact with you personally.