GBP NZD at Fresh Highs

The New Zealand dollar continues to see considerable volatility as global factors have a big impact on NZD exchange rates. Chinese economic data released overnight has seen China’s trade surplus arrive much better than expected at $326.1 bn against expectation of $179 bn. The phenomenal figures indicate a robust economy in China and signal that the global economy is still performing well. Strong data in China is generally seen as positive for the commodity currencies which includes the New Zealand Dollar.

GBP NZD

Rates for GBP NZD are now currently sitting at some of the best levels we have seen for almost two years. Levels for this pair are currently sitting above 1.93 for the GBP NZD pair which has presented those clients looking to buy New Zealand dollars with an excellent opportunity to purchase. UK economic data is light today although UK trade balance figures released at 10am this morning could help direct the price of sterling.

For the moment there appears to be a lot of good news factored in to the price of sterling and the ongoing Brexit negotiations appear to be more optimistic than they have been. Clients looking to buy may wish to take advantage of the higher levels which are currently on offer and take the risk out of the volatile currency markets.

The current situation with Brexit could change at a moment’s notice with two major issues yet to be ironed out. The Irish border and the detail on whether financial services will be includes are two major sticking points and I would expect to see major volatility around this. Any negative commentary for the EU is likely to see the pound fall against the New Zealand dollar.

For more information on the New Zealand dollar and assistance in making transfer when either buying or selling New Zealand dollars then please get in touch with me at [email protected]