The Pound vs the New Zealand Dollar is now trading at its highest level not seen since September 2016 following the UK’s announcement that it will be holding a snap general election on June 8th.
The likely result is that Theresa May will maintain her position as Prime Minister and the confidence this has provided to the UK economy has helped the Pound fight back against all major currencies including the New Zealand Dollar.
If you’ve been reading this site for quite some time then you’ll notice the relationship that China has with both the Australian Dollar and the New Zealand Dollar so whenever the Chinese release negative data this can also have a negative effect on the New Zealand Dollar.
Chinese data has been rather mixed recently which has helped to add to the weakness of the New Zealand Dollar vs the Pound.
The biggest day of the week in terms of the impact that economic data could have on the market will be on Friday when the UK releases its GDP data for the first quarter and as this is the first release this is likely to cause a lot of volatility depending on the outcome of the data release.
The expectation is for 0.4% growth for the quarter which is lower than the previous quarter and could this end Sterling’s positive run vs the New Zealand Dollar?
Having worked for one of the UK’s leading currency brokers since 2003 I am confident not only of being able to offer you bank beating exchange rates but also help you with different contract types typically unavailable from your high street bank.
If you would like a free quote when buying or selling New Zealand Dollars compared to using your own bank or for further information then please send me an email with a brief explanation with your particular requirement and I look forward to hearing from you.
Tom Holian [email protected]