Further positive news likely to boost the Pound, pushing GBP/NZD through 1.90 (Joseph Wright)

The Pound to New Zealand Dollar exchange rate has been hovering around the 1.90 mark recently, and dipping both below and above this mark as the pair appear to be trying to find direction.

Sterling has been buoyed over the past couple of days after a rare win in Brexit negotiations after news broke that the European Union has dropped a draft negotiating clause implying that the UK would be punished for breaking EU rules during the transitional period.

Positive news for UK, especially in regards to how the Brexit is likely to pan out is likely to remain the biggest influence of GBP exchange rates. I think that we could see GBP/NZD consolidate above 1.90 if the conditions of the transitional deal are agreed on before the EU summit towards the end of next month, but there could certainly be a bumpy ride in the meantime depending on what’s said.

Next week there is a busy week scheduled for UK data with inflation figures and GDP data likely to have a bearing on the Pounds direction.

Do feel free to register your interest with me if you would like to be notified should the currency pair in question move dramatically.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome 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. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.