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Is it time to start buying NZD with GBP?

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:20 PM (NZT)
The NZD has again seen a grinding pressure from the recently resurgent Pound Sterling this week. The .4850 (2.0619) presents its self as the a reasonable NZD support level, albeit the current price very close to it. The NZD was dragged higher yesterday on the back of the better than expected Australian employment numbers, but the gains proved unsustainable. The unchanged monetary decision from the BOE has also provided further support for the GBP. Further gains from the current levels should prove to be harder fought for the GBP. Any material improvement in global sentiment would see the NZ dollar outperform. The GBP will see further capital flows from Europe should negative EURO sentiment again increase, and this will support the GBP across the board. For those looking to transfer from GBP to NZD, current levels represent good value from the recent historical perspective.
 
 The current interbank midrate is:                                                            NZDGBP .4860                               GBPNZD 2.0576
                                                               
The interbank range so far this week to date has been:                 NZDGBP .4848 - .927                GBPNZD 2.0296 – 2.0627

 
 

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