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Last modified on November 17th, 2017 3:35 am

When converting New Zealand dollars (NZD) to Great British Pounds (GBP), or GBP to NZD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers, are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD/GBP currency conversion rates.

NZD to GBP Overview:Because of close historical ties, the NZD to GBP exchange rate has always been closely watched. In recent times the NZD has outperformed the Pound Sterling to the surprise of many looking to convert GBP to NZD. Once the NZD/GBP broke through heavy resistance at .4000 (GBP NZD support at 2.50), the way opened to a new range. With high migration between NZ and the UK and the money transfers that go with it, we have a strong focus and understanding of this exchange rate.

Historical Ranges: 1 year 5 years 10 years
NZD/GBP .5250 – .6342 .3990 – .6342 .3318 – .6342
GBP/NZD 1.5767 -1.9047 1.5767 -2.5062 1.5767 – 3.0136

Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 1.75%         Bank of England (BoE): 0.25%

NZD/GBP (GBP/NZD)

Click here for NZDGBP charts

The UK Pound (GBP) has crept higher against the New Zealand dollar (NZD) as data continues to be supportive. The NZD hit a 10 day low last night at 0.5182 after the better than expected UK retail sales. However, the same Brexit and political pressures remain on the Pound and the NZD/GBP is now back at 0.5200 and a hold above this level should see the NZD push back to the 0.5243 level next week.

Exchange Rates: 

The current interbank midrate is: NZDGBP 0.5192     GBPNZD 1.9259

The interbank range this week has been: NZDGBP 0.5181 – 0.5294     NZDGBP 1.8888 – 1.9301 

NZD/GBP (GBP/NZD)

Impact on this currency pair:

Click here for NZDGBP charts

The UK Pound (GBP) is still struggling on the Brexit problems and now potential for political instability around UK PM May’s leadership. The NZD/GBP is softer around 0.5243 but hard to see much further downside against the GBP and we look for a return to the 0.5285 level later in the week. Those looking to transfer GBP to NZD should consider dealing at current levels.

NZD/GBP Exchange Rates: 

Current Level Support Resistance Last week’s range
NZD/GBP 0.5233 0.5150 0.5320 0.5232 – 0.5322
GBP/NZD 1.9109 1.8181 1.9417 1.8790 – 1.9112

NZD/GBP

Impact on this currency pair:

After the UK Pound (GBP) sell-off last night the New Zealand dollar (NZD) is at 0.5285 on this cross. Although NZ data is starting to turn a little soft, expect Brexit and now UK political woes to keep the NZD supported against the GBP.  Up from a low of 0.5275 earlier in the week, we expect an attempt to take the 0.5325 level early next week. Click here to access NZD/GBP currency charts.

NZD/GBP Exchange Rates: 

The current interbank midrate is: NZDGBP 0.5284       GBPNZD 1.8923

The interbank range this week has been: NZDGBP 0.5238 – 0.5322      GBPNZD 1.8790 – 1.9091

NZD/GBP
Direct FX – NZD to GBP Exchange Rate

GBP/NZD
Direct FX – GBP to NZD Exchange Rate

The New Zealand dollar is now back at 0.5273 after the UK Pound bounced back overnight. Expect this cross to trade a 0.5200-0.5300 range over the next few days until the RBNZ on Thursday. We favour the NZD/GBP to trade toward top of the range and consolidate around current levels. Click here to access NZD/GBP currency chart.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5267 0.5150 0.5320 0.5146 – 0.5315
GBP/NZD 1.8987 1.8181 1.9417 1.8814 – 1.9431

NZD/GBP

Impact on this currency pair:

The New Zealand dollar is back around 0.5305 against the UK Pound and looks set to test resistance at 0.5320 over the coming days. Last night Bank of England “dovish” rate hike has pressured the Pound and this helped to drive the pair higher. Expect further  tests of the topside. Click here to access NZD/GBP currency chart.

Exchange Rates:

The current interbank midrate is: NZDGBP 0.5289 GBPNZD 1.8905

To access our live interbank midrate widget click here

The interbank range this week has been: NZDGBP 0.5146 – 0.5299 GBPNZD 1.8871 – 1.9431

NZD/GBP
Direct FX – NZD/GDP exchange rate chart

GBP to NZD
Direct FX – GBP/NZD exchange rate chart

Below are our NZDGBP and GBPNZD charts, for the past five trading days.

NZD/GBP

The UK Pound has put on further gains against the NZD as the potential Thursday BoE rate hike continues to be factored into the currency. Better economic data continues to support the GBP but Brexit woes should keep the GBP from racing away. A corrective bounce in the NZD is overdue. Click here to access NZD/GBP currency chart.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5185 0.5150 0.5320 0.5180 – 0.5267
GBP/NZD 1.9286 1.8181 1.9417 1.8987 – 1.9306

NZD/GBP

Impact on this currency pair:

We have seen dramatic losses for this pair over the past 10 days or so. While the initial move came on the back of New Zealand dollar weakness in the wake of the Labour coalition announcement, the latest declines have been driven by strength in the UK Pound. Stronger than forecast UK GDP data on Wednesday night lit something of a fire under the Pound and that helped to drive the NZDGBP cross to a low of 0.5179. It too early to say if the declines have run their course and there are no signals that momentum is waning just yet, so for now the risks remain to the downside. Initial resistance comes in around 0.5265 and while below that level, the outlook remains negative. That being said, this pair has fallen a long way in a short space of time and it wouldn’t’ take much to trigger a corrective bounce. Those looking to convert GBP to NZD should start averaging in from current levels. Click here to access NZD/GBP currency chart.

Exchange Rates

The current interbank midrate is: NZDGBP 0.5199 GBPNZD 1.9236

 

To access our live interbank midrate widget click here

The interbank range this week has been: NZDGBP 0.5180 – 0.5338 GBPNZD 1.8735 – 1.9306

Below are our NZDGBP and GBPNZD charts, for the past five trading days.

 

NZD/GBP

Weaker UK manufacturing data along with political uncertainty over PM May’s leadership have not helped the GBP. Now at 0.5422 the NZD now looks more favoured in the short term…look for a push to 0.5450 over the next few days. Click here to access NZD/GBP currency chart.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5412 0.5230 0.5530 0.5348 – 0.5434
GBP/NZD 1.8476 1.8083 1.9120 1.8401 – 1.8401

NZD/GBP

The New Zealand dollar is still looking for direction against the UK Pound. BoE rate moves have been factored in but Brexit issues remain. Currently at 0.5380 and we favour NZD downside but for the short term 0.5340-0.5402 range should hold. Click here to access NZD/GBP currency chart.

Exchange Rates:

The current interbank midrate is:    NZDGBP 0.5373    GBPNZD 1.8612

The interbank range this week has been:    NZDGBP 0.5348 – 0.5451    GBPNZD 1.8344 – 1.8698

NZD/GBP

The NZD is back at 0.5376 vs the UK Pound after 0.5435 on Friday after UK PM May’s Brexit speech proved a fizzer. There is still no clear direction but downside is the more favoured side, immediate support is at 0.5355. Click here to access NZD/GBP currency chart.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5369 0.5230 0.5530 0.5357 – 0.5456
GBP/NZD 1.8627 1.8083 1.9120 1.8328 – 1.8669

NZD/GBP

The New Zealand dollar has weakened over the last few days on this cross as better UK data provides the Pound some support. It is now at 0.5370, tonight’s Brexit speech by May is major event risk as is the NZ election tomorrow. Hard to pick direction but next week should provide a clearer trend. Click here to access NZD/GBP currency chart.

The current interbank midrate is:    NZDGBP 0.5364    GBPNZD 1.8644

The interbank range this week has been:    NZDGBP 0.5337 – 0.5456    GBPNZD 1.8328 – 1.8738

NZD/GBP

The New Zealand dollar was knocked around badly by the UK Pound last night.  It is now at 0.5395 after a high of 0.5545 earlier in the week, with better UK data and BoE rate hike talk look for a test of support levels next week. Click here to access NZD/GBP currency chart.

The current interbank midrate is:    NZDGBP 0.5394    GBPNZD 1.8539

The interbank range this week has been:    NZDGBP 0.5371 – 0.5583    GBPNZD 1.7911 – 1.8618

NZD/GBP

The New Zealand dollar is now softer against the UK Pound down at 0.5502. UK CPI figures tonight have the potential for upside surprise which would test support. For now at least, the focus remain toward further NZD weakness. Click here to access NZD/GBP currency chart.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5483 0.5460 0.5600 0.5480 – 0.5583
GBP/NZD 1.8238 1.7857 1.8315 1.7911 – 1.8250

NZD/GBP

After dropping to 0.5500 yesterday the New Zealand dollar is back around 0.5541 as the GBP continues under Brexit negotiation pressure. Look for 0.5500- 0.5560 range to hold heading into next week. Click here to access NZD/GBP currency chart.

The current interbank midrate is:    NZDGBP 0.5545    GBPNZD 1.8034

The interbank range this week has been:    NZDGBP 0.5499 – 0.5578    GBPNZD 1.7926 – 1.8187

The New Zealand dollar has traded in a narrow range against the UK Pound. It is now at 0.5545 as the NZD has been helped by the weaker GBP/USD on the back of Brexit negotiation issues. Softer NZD/USD will help to balance out ahead of elections should see 0.5500 later in the week.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5540 0.5480 0.5670 0.5512 – 0.5631
GBP/NZD 1.8051 1.7637 1.8248 1.7759 – 1.8142

The New Zealand dollar has continued to be soft against the UK Pound, now at 0.5549 and given the NZD/USD outlook we expect this cross to move back toward 0.5500 over next week. Key support around 0.5560 has been broken in recent sessions and this is a bearish signal. At this stage there is nothing to say the downtrend has run its course. The risks remain toward further weakness.
The current interbank midrate is:    NZDGBP 0.5541    GBPNZD 1.8049

The interbank range this week has been:    NZDGBP 0.5532 – 0.5641    GBPNZD 1.7728 – 1.8076

The New Zealand dollar has continued its softer run against the UK Pound. It is now at 0.5598 after the GBP rally late last week. Brexit negotiations will prevent the GBP from racing away and we look for the existing range to hold for the next few days. There is support around the 0.5550 area and we expect that to contain any further weakness in the near term. Those looking to transfer GBP to NZD should take advantage of this current weakness.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5583 0.5530 0.5670 0.5583 – 0.5692
GBP/NZD 1.7915 1.7637 1.8083 1.7568 – 1.7912

The New Zealand dollar has weakened against the UK Pound and is now trading at 0.5628. It could have been lower but the GBP itself remains weak and that’s limited the cross rates decline. It has potential to drift lower to 0.5590 but given the softer GBP tone look for this level to hold over early next week.
The current interbank midrate is:    NZDGBP 0.5630    GBPNZD 1.7761

The interbank range this week has been:    NZDGBP 0.5620 – 0.5706    GBPNZD 1.0804 – 1.0971

The New Zealand dollar remains flat vs the UK Pound with little clear direction. It is now at 0.5682, so gradually grinding higher, although 0.5700 will prove a tough level to break.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5678 0.5630 0.5755 0.5615 – 0.5706
GBP/NZD 1.7614 1.7377 1.7762 1.7525 – 1.7809

The New Zealand dollar looks to have stabilized at higher levels around 0.5660 vs the UK Pound as softer UK data and ongoing Brexit concerns keep investors away from the GBP. It should see a push up to 0.5700 next week.
The current interbank midrate is:    NZDGBP 0.5650    GBPNZD 1.7700

The interbank range this week has been:    NZDGBP 0.5588 – 0.5683    GBPNZD 1.7597 – 1.7894

The New Zealand dollar has posted some gains against the UK Pound. It is now at 0.5630 with weaker UK data providing NZD support. This week’s UK data dump has potential to set direction. NZD upside is favoured however and we look for 0.5650/70 later this week.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5632 0.5600 0.5755 0.5587 – 0.5663
GBP/NZD 1.7757 1.7377 1.7857 1.7658 – 1.7900

The NZD has held relatively well against the GBP helped by weaker UK data, but yesterday’s RBNZ comments did the NZD no favours and the pair has fallen to the 0.5600 area. There is decent support around the 0.5560 area and if this was to break the next target would be 0.5500. Those with UK Pounds who are looking to convert back to New Zealand dollars should target any dips toward wholesale market support around 0.5560.
The current interbank midrate is:    NZDGBP 0.5590    GBPNZD 1.7890

The interbank range this week has been:    NZDGBP 0.5587 – 0.5691    GBPNZD 1.7571 – 1.7900

The New Zealand dollar has held gains relatively well, helped by the weaker tone if the UK Pound. It is now around 0.5640 and should continue to hold gains and strengthen on this cross although the RBNZ may provide a temporary setback. We still look for 0.5755 target in the coming weeks.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5632 0.5600 0.5755 0.5581 – 0.5691
GBP/NZD 1.7756 1.7377 1.7857 1.7571 – 1.7917

The more negatively toned Bank of England statement last night saw the New Zealand dollar climb from 0.5580 to 0.5655. The NZD should hold and increase gains on the UK pound but the RBNZ statement next week may effect a correction although overall Kiwi fundamentals remain more promising. A target of 0.5755 still remains possible over the next few weeks which would provide a good opportunity for those looking to transfer NZD to GBP.
The current interbank midrate is:    NZDGBP 0.5652    GBPNZD 1.7693

The interbank range this week has been:    NZDGBP 0.5581 – 0.5728    GBPNZD 1.7458 – 1.7917

Price action in this pair hasn’t really been driven by fundamental data at all this week. We have seen the New Zealand dollar outperform the UK Pound somewhat, but that’s happened on the back of broad based USD weakness that has dominated the market over the past 5 days. Solid resistance around the 0.5755 area (support at 1.7376) has managed to cap any periods of strength for the pair, while weakness has been limited to the 0.5680 area (1.7606). I expect to see 0.5755 (1.7376) continue to put a roof on any potential near term gains, and I think we could eventually get a move back down to much better support around 0.5560 (resistance around 1.7986). That move may take some time however.
The current interbank midrate is:    NZDGBP 0.5730    GBPNZD 1.7454

The interbank range this week has been:    NZDGBP 0.5682 – 0.5747    GBPNZD 1.7402 – 1.7598

The New Zealand dollar outperformed the UK Pound last week, even though both countries produced softer than forecast inflation data. The GBP also has Brexit concerns weighing and those are unlikely to dissipate any time soon. There is pretty solid resistance around the 0.5755 area (support around 1.7377) and that may well cap the pair this week. Any significant decline in the pair however will need to come from some GBP strength, and the only thing this week that could potentially cause that is UK GDP data on Wednesday. A positive surprise there should see the UK Pound stage something of a recovery. At this stage the market is looking for a quarterly gain of 0.3%.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5704 0.5650 0.5755 0.5565 – 0.5741
GBP/NZD 1.7531 1.7377 1.7699 1.7420 – 1.7970

It has been a choppy week of price action for the New Zealand dollar vs the UK Pound. The pair traded to a low of 0.5565 on Tuesday in the immediate aftermath of NZ’s soft inflation result, but since then we’ve seen a decent recovery, led in large part by GBP weakness. The UK too produced some softer than forecast inflation data and this has combined with Brexit concerns the weight on the Pound. The pair currently trades just below resistance at 0.5720 and any break above that level would open the way for a test of 0.5770. A failure to overcome 0.5720 could easily see the pair drift lower to support at 0.5660.
The current interbank midrate is:    NZDGBP 0.5706    GBPNZD 1.7526

The interbank range this week has been:    NZDGBP 0.5565 – 0.5718    GBPNZD 1.7488 – 1.7970

Although price action over the past week in this pair had been volatile, the overall level of the New Zealand dollar vs the UK Pound started the week little changed from where it was at the beginning July. That all changed this morning however, with the release of soft NZ inflation data. The NZD immediately fell across the board and against the GBP the cross is currently testing initial support around 0.5560. A sustained break below that level will open the way for a test of the 0.5450 area. Those with GBP’s to sell should be patient and let this move develop.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5568 0.5560 0.5660 0.5565 – 0.5703
GBP/NZD 1.7958 1.7668 1.7986 1.7536 – 1.7970

The past two weeks have seen the New Zealand dollar trading sideways in a quiet range against the UK Pound between the broad parameters of 0.5590 and 0.5660. Only in the past 48 hours has the market livened up with a test of the lows at 0.5587, followed by a strong bounce and a short lived spike higher to 0.5704. That volatility has largely been driven by movements in the NZD as it benefited from some solid USD and EUR selling. As this recent NZD strength isn’t based on any change in fundamentals for New Zealand, we suspect it eventually run out of steam and the pair could slowly correct lower. In the meantime however we can’t rule out further tests of the topside and we favour selling into any such strength.
The current interbank midrate is:    NZDGBP 0.5651    GBPNZD 1.7696

The interbank range this week has been:    NZDGBP 0.5587 – 0.5688    GBPNZD 1.7581 – 1.7898

Like many New Zealand dollar pairings, the NZDGBP has been range bound over the past couple of weeks. The UK pound is struggling for direction at the moment, with disappointing data countering the Bank of England’s tightening bias. The NZD too has been treading water recently albeit at what we consider slightly elevated levels. This sideways price action won’t continue forever, but at this stage it’s hard to see what could trigger a move. The only data of significance this week comes from the UK in the form of their employment and earnings numbers. Maybe that will finally break the deadlock?

Current Level Support Resistance Last week’s range
NZD/GBP 0.5627 0.5595 0.5660 0.5597 – 0.5660
GBP/NZD 1.7772 1.7666 1.7873 1.7669 – 1.7867

The New Zealand dollar continues to sideways trade against the UK Pound. It’s now at 0.5620 but still unable to get above the 0.5700 level. It continues to look for direction, although given the more hawkish BoE over our RBNZ downside tone has the edge.
The current interbank midrate is:    NZDGBP 0.5614    GBPNZD 1.7812

The interbank range this week has been:    NZDGBP 0.5597 – 0.5659    GBPNZD 1.7671 – 1.7867

The New Zealand dollar continues to hold below the 0.5700 level against the UK Pound. Now at 0.5623 and trading in a narrow range, should consolidate at current levels ahead of US data and unless BoE starts talking up rate increases again.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5620 0.5580 0.5750 0.5599 – 0.5762
GBP/NZD 1.7794 1.7391 1.7921 1.7356 – 1.7861

After the previous sideways pattern the New Zealand dollar has broken lower against the UK Pound as the BoE talk of rate hikes has pushed the pair to a low of 0.5595. That’s down from 0.5768 high earlier in the week. Now at 05626 and consolidation around this level should hold into next week.
The current interbank midrate is:    NZDGBP 0.5627    GBPNZD 1.7770

The interbank range this week has been:    NZDGBP 0.5599 – 0.5762    GBPNZD 1.7356 – 1.7861

The NZD is now up at 0.5733 vs the UK Pound and looks to be in a sideways pattern. News from the UK continues to be conflicting especially around the political situation. A push to the 0.5750 looks possible over the next few days.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5728 0.5580 0.5800 0.5673 – 0.5751
GBP/NZD 1.7458 1.7241 1.7921 1.7387 – 1.7627

The New Zealand dollar is currently around 0.5680 to the UK Pound, after pushing higher to 0.5720 again failed late last week. A push through the 0.5720 resistance level would be encouraging but as long as NZD holds above 0.5625 potential for further gains remain, especially given the “fluid’ state of UK politics.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5672 0.5580 0.5800 0.5629 – 0.5732
GBP/NZD 1.7630 1.7241 1.7921 1.7447 – 1.7765

The New Zealand dollar had a crack at key resistance around 0.5720 this week, but failed to overcome it. Since then we have had a softer than forecast NZ GDP result and a surprisingly close vote at the Bank of England meeting, both of which have pressured the NZDGBP to the downside. There are tentative signs the tide is turning after relentless gains for much of the past month, and we may well now see further losses for the pair over the coming week. Initial support comes in around 0.5625 and any break below there would likely encourage further selling.
The current interbank midrate is:    NZDGBP 0.5641    GBPNZD 1.7726

The interbank range this week has been:    NZDGBP 0.5629 – 0.5732    GBPNZD 1.7447 – 1.7765

Post-election political turmoil has driven this cross higher with the UK Pound underperforming across the board. It’s now trading at 0.5707 and further advances look likely with the next target at 0.5800 possible later this week. Key resistance around 0.5720 will need to be overcome first however.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5705 0.5580 0.5800 0.5530 – 0.5708
GBP/NZD 1.7529 1.7241 1.7921 1.7518 – 1.8085

Election rules on this cross….now around 0.5562 but we expect little movement from this level until the result is clearer tomorrow late morning NZ time. A convincing Conservative victory could see the NZD to fall to the 0.5480 zone as a relief rally takes over the GBP.
The current interbank midrate is:    NZDGBP 0.5548    GBPNZD 1.8025

The interbank range this week has been:    NZDGBP 0.5473 – 0.5590    GBPNZD 1.7889 – 1.8271

The UK Pound continues to be buffeted by election jitters, this cross is now at 0.5528  and looks to be set to pressure 0.5560 which if broken could extend to above 0.5600.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5528 0.5480 0.5560 0.5473 – 0.5555
GBP/NZD 1.8091 1.7985 1.8248 1.8002 – 1.8271

The NZD has benefited from the continued poll weakness for the Conservatives ahead of next Thursday’s UK general election. Currently at 0.5488 and a move back to resistance at 0.5560 looks likely which if broken could see an extension to 0.5607..more likely next week.
The current interbank midrate is:    NZDGBP 0.5486    GBPNZD 1.8227

The interbank range this week has been:    NZDGBP 0.5437 – 0.5558    GBPNZD 1.7993 – 1.8391

The New Zealand Dollar has built on previous gains as the UK Pound succumbs to weaker data and a drop in polls for the Conservative government 8 days out from the election. It is currently around 0.5502 up from 0.5425 seen on Friday. Next stop is 0.5607, but we favour trading sub 0.5560 until some of this week’s US data has been digested.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5494 0.5480 0.5560 0.5387 – 0.5521
GBP/NZD 1.8201 1.7985 1.8248 1.8111 – 1.8563

Gains in this pair have been largely driven by strength in the New Zealand dollar over the past week. The UK pound itself remains range bound while the NZD has been supported by solid trade balance data and increasing dairy pay-out forecasts. Gains in the past couple of days however have been much harder fought and resistance around 0.5450 has so far capped the pair. If that continues then we could easily see a pullback towards support around 0.5480. If however the pair can overcome 0.5450 it will open the way for gains toward the much stronger resistance level of 0.5560.
The current interbank midrate is:    NZDGBP 0.5423    GBPNZD 1.8439

The interbank range this week has been:    NZDGBP 0.5291 – 0.5447    GBPNZD 1.8360 – 1.8898

With the UK Pound having a pullback on the Conservatives election stumble, the New Zealand dollar is now at 0.5400 on this cross. What effect the UK terror bombing will have on the election is still unclear but if the NZD can hold around the 0.5380-0.5400 level a move to 0.5450 is possible over the next few days.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5394 0.5300 0.5450 0.5291 – 0.5402
GBP/NZD 1.8538 1.8348 1.8868 1.8511 – 1.8898

The NZDGBP as traded in a tight 0.5308-0.5365 range over the last few days. It is now at 0.5318 and lacks any clear direction. After last night’s GBP/USD rally back over 1.30 we now look for the NZD to move back to support at the 0.5305 region.
The current interbank midrate is:    NZDGBP 0.5311    GBPNZD 1.8828

The interbank range this week has been:    NZDGBP 0.5305 – 0.5362    GBPNZD 1.8649 – 1.8851

The NZD is firmer against the UK Pound over the past few days. It is currently at 0.5340 and looks to be set to target a move back over 0.5350 over the coming days. Support around 0.5300 should contain any periods of relative NZD weakness, assuming tonight’s dairy auction doesn’t produce a big negative surprise.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5329 0.5300 0.5420 0.5274 – 0.5373
GBP/NZD 1.8767 1.8450 1.8868 1.8610 – 1.8961

The weaker New Zealand dollar has seen this cross down at 0.5275 after yesterday’s RBNZ statement. It’s now back around 0.5310 after the BoE disappointment overnight. A little directionless at the moment but we look for a move back to the 0.5350 region next week.
The current interbank midrate is:    NZDGBP 0.5302    GBPNZD 1.8862

The interbank range this week has been:    NZDGBP 0.5274 – 0.5373    GBPNZD 1.8610 – 1.8961

Better election prospects have helped the UK Pound on this cross as the New Zealand dollar has weakened from 0.5390. It’s now at 0.5340 and looks to be consolidating. We expect the pair to hold at current levels until the RBNZ statement on Thursday.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5325 0.5300 0.5420 0.5299 – 0.5385
GBP/NZD 1.8777 1.8450 1.8868 1.8570 – 1.8873

Better data has helped the UK Pound which has ranged between 0.5298-0.5390 on this cross over the week. It is now at 0.5320 and should hold these levels heading into next week. If commodity currencies continue out of favour the pair will struggle. The New Zealand dollar however looks a little oversold and a recovery in the local currency could push the pair back to 0.5390 or higher.
The current interbank midrate is:    NZDGBP 0.5324    GBPNZD 1.8783

The interbank range this week has been:    NZDGBP 0.5297 – 0.5387    GBPNZD 1.8563 – 1.8880

The New Zealand dollar has fallen against the UK Pound over the last week from 0.5518 to 0.5298. It has staged a minor recovery to the 0.0.5368 level and should consolidate around current levels ahead of the US jobs data on Friday. The GBP is favoured on this cross as long as GBP data remains supportive. As the UK election date approaches (June 8th) expect some choppy moves.

Current Level Support Resistance Last week’s range
NZD/GBP 0.5362 0.5300 0.5420 0.5297 – 0.5471
GBP/NZD 1.8651 1.8450 1.8868 1.8278 – 1.8880