The Pound is now trading at its best level to buy New Zealand Dollars since November after the Pound has had a great day across the board against all major currencies.
The news is that the Brexit talks appear to have gone very well and this has seen GBNZD exchange rates break past 1.94 during this afternoon’s trading session.
The British Chambers of Commerce has increased the UK’s growth forecast for both 2018 and 2019. They have also raised the forecast for 2020 to 1.6% growth which is very positive news.
Whilst strong global growth continues this should help the British economy and therefore Sterling exchange rates.
With the US Federal Reserve meeting this week the likelihood is that we’ll see an interest rate hike in the US this week and this is likely to encourage global investors to sell off riskier currencies including both the Australian Dollar as well as the New Zealand Dollar.
Therefore, I fully expect GBPNZD exchange rates to continue to move in an upwards direction creating some excellent opportunities to buy New Zealand Dollars with Pounds.
With a Westpac consumer survey coming out tonight I think we could see the Sterling rally continue.
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 buying or selling 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 (Tom Holian) on [email protected] and I will endeavour to get back to you as soon as I can.