The New Zealand Dollar has been coming under pressure in recent sessions as the general election on the 23rd of September approaches.
The reason behind this apart from the political uncertainty which often has a negative impact on the underlying currency, is that both major parties in the running for the election appear to have outlooks which favour a weaker New Zealand Dollar.
A recent survey out of New Zealand demonstrated that there has been a large increase in hedging practices from importers and exporters in the Country as fears surrounding the election and the potential for NZD volatility increases.
The Pound is coming under pressure itself as fears surrounding both the Brexit bill along with how Brexit negotiations are going are giving investors the jitters surrounding the UK economy moving forward.
If you would like to be kept updated regarding any short-term price movement between the pairs it’s worth registering your interest with me as I’m able to make clients aware of any big moves.
This morning at 9.30am there will be a number of economic data releases out of the UK and if you would also like to discuss which releases next week could impact rates do feel free to get in touch.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.