The pound has once again broken over 1.90 against the New Zealand dollar creating an excellent opportunity for those clients looking to buy New Zealand dollars.
Rates for GBP NZD currently sit a 1.8990 but there is every chance to achieve the psychological 1.90 as a trading level with a little bit of positive market movement for the pair.
UK retail sales data for December is released on Friday which will give a good indication as to how strong the high street was over Christmas and could see the pound rally on the back of a strong release. Data for New Zealand is light for the rest of the week with just business Purchasing Managers Index data released on Thursday evening which measures overall business conditions in New Zealand.
Those clients looking to buy or sell New Zealand dollars for pounds would be wise to pay close attention to the ongoing Brexit negotiations which will soon move on to the second round of talk which will focus on the thorny issue of future trade and a transitional agreement.
Anything positive to come out of these talks at an early stage could help see the pound rally and I of the opinion there is a genuine will from all side to put some together that works for all. However these talk will continue until March 2019 before anything is officially signed off on which leaves a very long period of uncertainty for clients with a NZD GBP requirement.
The Brexit negotiations are likely to be a major driver for sterling exchange rates in 2018 and those clients with pending requirements would be well placed to get in contact to discuss how these events are likely to impact on your own currency requirements. Please feel free to email me James at [email protected] and I will be happy to assist.