The Pound has recently hit 18 month highs to buy the New Zealand Dollar but during the course of the week we have seen some slippage on the rates.
The fall is likely to be linked to what is happening with the ongoing Brexit talks which have hit a bit of a stumbling block during the last few days.
The stance adopted by the Democratic Unionist Party has not helped take things forward and until we get some form of appeasement then we could hit further blocks ahead regarding the Irish border issue.
The UK government and the European Union clearly both want things to progress in order to move forward to phase two of the negotiations.
The next EU summit is due to start next Thursday and the hot topic is likely to be discussing a trade deal but if the Irish border issue does not get sorted then this could see a problem for the Pound vs the New Zealand Dollar.
However, if the talks end up going well we could potentially see GBPNZD exchange rates move towards the level of 2.
With the current Prime Minister Jacinta Ardern remaining under a lot of pressure since taking power of the country a lot of her policies have not necessarily been taken that well.
With Ardern looking at discouraging foreign property ownership although this is good news for first time buyers as it is likely to keep the costs down this is not necessarily a positive for the economy. Immigration has been a big revenue generator for New Zealand so is why we have seen the New Zealand Dollar struggle recently.
If you need to make a currency transfer over the next few days or weeks and would like further information or a free quote when buying or selling currency then feel free to get in touch.
Having worked in the foreign exchange industry since 2003 I am confident of not only being able to offer you bank beating exchange rates but also help you with the timing of your currency transfer.
To find out more contact me directly Tom Holian [email protected]