The New Zealand Dollar has once again weakened against the Pound as interest rate hikes both here and the US appear to be coming very soon.
The US are almost 100% nailed on for a rate hike at March’s meeting meanwhile the UK have penciled in a possible rate hike by May with odds currently being measured at 75%.
The US economy has continued to go from strength to strength recently and with unemployment close to its best on record alongside positive growth this is making a rate hike almost a certainty.
This has caused global investors to sell the New Zealand Dollar in favour of the yield available in the US as well as investing into a strong economy with very positive growth.
The UK is itself in an uncertain predicament at the moment as Phase 2 of the Brexit negotiations are due to take place next month. Brexit has dominated the value of Sterling exchange rates against all major currencies including vs the NZD.
However, over the last 12 months the Pound has been getting very close to pre-referendum highs as politically New Zealand has endured a rather difficult last few months.
Tomorrow morning the UK will release the latest set of Unemployment data as well as Average Earnings. Unemployment has been getting close to the best levels since records began over 40 years ago so another positive release could send GBPNZD exchange rates in an upwards direction.
If you would like to free quote when buying or selling New Zealand Dollars and would like to save money on exchange rates compared to using your own bank then contact me directly. Having worked in the foreign exchange industry for one of the UK’s leading currency brokers since 2003 I am confident of being able to save you money and help you with the timing of your transfer.
Feel free to email me directly with a brief description of your requirement and I look forward to hearing from you.
Tom Holian [email protected]