Positive Trade Surplus strengthens the New Zealand Dollar vs Sterling (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

The Pound has fallen dramatically during the course of today’s trading session against the New Zealand Dollar following the release of the latest Trade Surplus data overnight.

The Trade Surplus was the best on record for last month which is good news for the economy down under.

Standard & Poor’s have also appeared to have been given a more positive assessment of their economy which has also led to further strength for the New Zealand Dollar vs the Pound.

Indeed, the credit ratings agency currently has New Zealand at a ‘stable’ outlook.

With dairy products forming the biggest part of the economy in New Zealand the country’s largest export rose by over 30%.

With the New Zealand Dollar having been very weak since Jacinta Ardern came into power earlier this year the weakness of the currency during the last few months has clearly had a helping hand in strengthening the economy.

Moving the focus towards what is happening globally the next big event will come this evening when the US Federal Reserve are due to meet to discuss their latest interest rate decision.

As this is Fed Chairlady Janet Yellen’s last meeting I think there will be no change in interest rates this evening but any talk of a change coming could see a lot of movement on the foreign exchange market.

If you have a need to make a currency transfer in the near future 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.