The future of GBPNZD exchange rates

Over the last 6 months the pound has made considerable gains against the New Zealand dollar and I expect this trend to continue over the next 6. With interest rates being hiked around the globe and New Zealand announcing that an interest rate hike is unlikely, investors are moving away from the New Zealand dollar and seeking higher returns around the globe.

This week a report by the New Zealand institute of Economic Research suggested the business confidence had dropped once again for the 2nd consecutive quarter. Many economists are suggesting this comes from the fallout of the election and the changes the Labour government have made.

The pound has been performing well against most of the G10 currencies of late, as the EU have confirmed enough progress has been made with the UK paving way for negotiations to begin this year.  The plan is to have the trade negotiations wrapped up by October which give the UK and EU both time to plan the exit early 2018.

Personally I expect that the UK, will form some kind of partnership with the EU which will cause the pound to strengthen considerably toward the end of this year. Therefore for clients holding onto New Zealand dollars and are looking to buy pounds within the next 18 months, I would suggest early 2018 could be the best time to trade.

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! **