Although many of our readers tend to be concerned with the Pound to New Zealand Dollar rate, looking into how the Kiwi is performing against other major currency pairs can be useful as it provides you with an idea of how the currency is performing on the whole.
Despite losing quite a lot of value against the Pound recently, mostly owning to Sterling strength after the currency has been boosted as the Brexit transitional agreement has been made, the Kiwi has been performing well recently across the board of major currency pairs. The Aussie Dollar has been dropping as demand for commodities has softened globally and it’s been confirmed that profit margins for mining companies will be slimmed because of this.
For those of our readers watching the GBP/NZD rate, there are many that think the Pound is likely to continue to climb throughout the year, especially now that there are members of the Bank of England voting in favour of hiking exchange rates.
There’s no data out of New Zealand between now and the end of the week that could result in movement NZD, so I think that those following the rates will need to look out for other data that could impact the pair they’re concerned with. UK GDP data is due out at 09.30am with expectations for 0.4% over the past quarter forecasted, but expect to see the GBP/NZD rate move if the actual figure deviates.
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 [email protected] and I will endeavour to get back to you as soon as I can.