Sterling today held its ground against the New Zealand Dollar which is the first time in nearly 5 days the rate hasn’t dropped lower than where it’s started in a day. Moving forwards its unlikely that Sterling will be unable to really capitalise on any positive movements in the near future with the Brexit uncertainty.
However over the next few months there is optimism that Sterling could start to move off the bottom if the Government’s 12 Brexit white papers reveal all. There is hope that the documents will provide clarity on the route that the UK are looking to pursue, which could calm the economic climate. At the moment there is so much concern as to where the UK are heading that investors are struggling to find little confidence.
Next week looks set to be fairly quiet for the New Zealand Dollar as there isn’t much data being released however that’s unlikely to mean the rat wont see much movement. At the moment the GBP/NZD is in the balance with as much chance the rate will go up as down. However with the negativity that Sterling has been under of late the betting person would put their money on the rate falling once more.
I am in a position to help you execute a transfer and I am confident I can offer you the best rates. Therefore if you do have a question with regards to my forecast please get in touch. When it comes to moving large sums of money a movement of a cent can often relate to a significant difference in your returns. Helping you formulate a strategy could make sure you’re in the best position to exchange currency when the market is in your favor, please contact me Ben Fletcher at [email protected] and I will get back to you quickly.