Could the Pound hit 2 vs the New Zealand Dollar before the end of the year? (Tom Holian)

The Pound vs the New Zealand Dollar has continued to rally and is now trading at close to its highest level to buy New Zealand Dollars since the Brexit vote.

Clearly things are unsettled in the UK in terms of politically and with the economy but both New Zealand and Australia have both showed signs of a slowdown recently sending the Pound in an upward direction.

I think we could potentially even see the Pound move towards 2 vs the New Zealand Dollar creating some better opportunities to send money before the end of the year.

Generally speaking what ever happens in Australia has an impact on the rate to buy New Zealand Dollars and this morning Australia has seen lower than expected Employment figures with the Interbank level for GBPNZD hitting 1.92 during this morning’s trading session.

UK Retail Sales are due shortly and this is likely to have a big impact on GBPNZD exchange rates as retail sales are a big indicator of the UK’s economic strength so better than expected figures could send the market in an upwards direction so keep a close eye out on the data due to be released in the next hour.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will respond to you as soon as I can.