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NZD stablises against the GBP.

Written by Sam Coxhead on May 25th, 2012.      0 comments

5:07 PM (NZT) The NZ dollar has managed to stablise around current levels after the recent pressure exerted by the GBP. Firm support is now in place at .4750 (resistance at 2.1050). Any further gains from the GBP are likely to be harder fought as the BOE seem likely to engage in further quantitative easing at some stage. Next week will likely see the lead come from the wider market appetite for risk for the most part, with just business confidence numbers in NZ on Thursday ahead of UK manufacturing numbers on Friday. Current levels offer reasonably good value buying of NZD with GBP.
 
The current interbank midrate is:                                                            NZDGBP .4820                               GBPNZD 2.0747
                                                               
The interbank range so far this week to date has been:                 NZDGBP .4748 - .4836                GBPNZD 2.0664 – 2.1061
Topics: GBP, NZD, Pound Sterling
 

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