The pound has been losing value against many currencies but the Kiwi is one currency sterling has not fared too badly against. The expectation for the future is that the pound will continue to lose value and with the New Zealand dollar looking like it might well strengthen the outlook should continue to favour NZD sellers over NZD buyers with pounds.
The Kiwi had softened owing to global tensions as we saw North Korea fears lead to what are perceived as riskier currencies weakening. In times og global uncertainty investors will flee more risky currencies and flock to safe havens. So an example is clients selling the NZD and looking to buy the US dollar.
With the the tensions having cooled significantly in the last 24 hours as North Korean stated it will not be looking to attack there has been a shift in the market. However this issue could easily resurface again so clients looking to buy or sell NZD should be aware of the impact of such events.
The pound is in for a busy day with the latest Unemployment data being released at the time of writing helping sterling to rise. I think the best strategy is to buy currency on the spikes in your favour, any improvements are likely to be shortlived with so much uncertainty around for the UK.
If you need to buy or sell the New Zealand dollar in the coming months and weeks then please register a requirement with us. We are in business to help you trade on the improvements on your position in the future. For a free, no obligation discussion on the best way forward with your transfer please speak to me Jonathan Watson by emailing [email protected].
Thank you for reading and I look forward to hearing from you to discuss further soon.