New Zealand dollar plummets due to New Zealand election (Dayle Littlejohn)

Before the election past history would tell us if there was a change in leadership the New Zealand dollar would struggle for a period. Now that it has been confirmed that the Labour party will form a coalition with New Zealand first, the New Zealand dollar has come under severe pressure. For the foreseeable future I expect the New Zealand dollar will remain under severe pressure therefore clients selling New Zealand dollars short term may want to take advantage sooner rather then later.

The currency pair that I specialise in is GBPNZD as the brokerage I work for is from the UK. Brexit negotiations at present seem to be heating up and UK Prime Minister Theresa May has announced that the 2nd stage of negotiations could start in the near future as the UK and EU are close to coming to an agreement in regards to EU citizens rights.

I’m a big believer that if the UK secure the EU citizens rights and the divorce settlement bill GBPNZD exchange rates will soar. If you have been holing onto New Zealand dollars hoping that the Brexit story would provide you with extra cents on your exchange I think you should think again.

If you are buying or selling New Zealand dollars this week, month or year and I haven’t covered your currency pair I would recommend emailing me with the currency pair (NZDUSD, NZDGBP, NZDAUD) and the reason for the transfer (company goods, property purchase) and I will response with my forecast and the options available to you [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **