Pound falls against the NZD after Brexit jitters (Tom Holian)

GBP EUR Exchange Rate: Weekly Review July 16  

The Pound has had a very interesting week against the New Zealand Dollar after we saw huge movements on global stock indices.

This caused the Pound to hit recent highs against the New Zealand Dollar but the gains have now paired back against the NZD.

On Thursday the Bank of England held their latest monetary policy meeting and the minutes suggested that we could be seeing a rate hike coming for the UK by as early as May if inflation remains too high.

Back in November when the central bank last hiked interest rates this was a direct attempt to stop inflation rising and it has yet to have too much of an effect.

With inflation due on Tuesday if we see the data come out the same or higher than the anticipated 2.9% this could provide further support for a future interest rate hike.

During today’s trading session the Pound reversed it gains and we saw huge losses for GBPNZD rates after EU Chief Negotiator Michel Barnier announced that the transitional period which the UK will enter during March 2019-December 2020 is far from being agreed.

If you have a need to buy or sell New Zealand Dollars 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. 

Having worked for one of the UK’s leading currency brokers since 2003 you can email me (Tom Holian) on [email protected] and I will respond to you as soon as I can.