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NZD to GBP – Pound Sterling to NZ Dollars

When converting New Zealand dollars to Great British Pounds (NZD to 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.

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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): 1.50%         Bank of England (BoE): 0.75%


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The New Zealand Dollar (NZD) has reversed off the weekend close of 0.5240 (1.9090) against the British Pound (GBP) to retrace lower to 0.5180 (1.9300). We have seen five weeks straight of declines in the Pound with Brexit and Theresa May resigning having dogged the Pound. The UK Conservative Party have announced their 9 candidates to replace Theresa May with a new Prime Minister to be picked by July 22nd. The first vote will take place on the 13th June. The candidate with the least amount of support and any candidate with less than 5% or 16 votes will also be eliminated. June 18 will be second vote followed by a third on the 19th June and a fourth on the 20th June. This will take the total candidates to two, at this point voting by parliamentary members will start. The bounce off support of 1.9400 earlier in the week confirms the bullish NZD trend is still in play. Next week’s Bank of England Cash rate which is expected to remain at 0.75% will be in focus, but first NZ GDP q/q Thursday will give us more NZ economic clues.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5160 GBPNZD 1.9379
The interbank range this week has been: NZDGBP 0.5150- 0.5238 GBPNZD 1.9090- 1.9400

The New Zealand Dollar (NZD) has reversed off the weekend close of 0.5240 (1.9090) against the British Pound (GBP) to retrace lower. We have seen five weeks straight of declines in the Pound with Brexit and Theresa May resigning uncertainties remain. Overnight the UK Conservative Party have announced their 9 candidates to replace Theresa May with a new Prime Minister to be picked by July 22nd. The first vote will take place on the 13th June. The candidate with the least amount of support and any candidate with less than 5% or 16 votes will also be eliminated. June 18 will be second vote followed by a third on the 19th June and a fourth on the 20th June. This will take the total candidates to two. At this point voting my parliamentary members will start. Last night’s GDP m/m published poor at -0.4% based on predictions of -0.1% showing weakening growth. Manufacturing Production also disappointed at -3.9% versus -1.1%- this is the largest fall since 2002 with motor vehicles leading the decline in numbers. This week’s direction is tough to pick, we need a solid push back through 0.5150 (1.9400) before a bearish trend change is confirmed.

Exchange Rates
Current Level: 0.5209 (1.9197)
Resistance: 0.5240 (1.9400)
Support: 0.5155 (1.9090)
Last Weeks Range: 0.5195-0.5239 (1.9086-1.925)

Overnight saw better UK PMI services data give the GBP a boost but as always, any economic data is secondary to Brexit developments blunting any significant GBP strength.
This week has seen plenty of focus on the UK with the state visit of President Trump…real news away from the name calling distractions and state dinners has been the apparent willingness of President Trump to engage in a “substantial” trade agreement on the UK exit from the EU. However enthusiasm for this has been tempered by news that the British NHS health system may form part of such an agreement, attracting widespread criticism from several UK political parties. Tomorrow, UK PM May will step down clearing the way for a new leader and several weeks of a leadership contest…it is unlikely that the new leader will be able to find a clearer way out of the Brexit Gordian knot , so GBP volatility will continue with any GBP upside limited. Currently the NZD/GBP is at 0.5220 with initial support/resistance 0.5180/0.5240…should hold around current levels ahead of the US payroll data tomorrow night…NZD is our favourite on this cross.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5218 GBPNZD 1.9160
The interbank range this week has been: NZDGBP 0.5167- 0.5233 GBPNZD 1.9107- 1.9350

The New Zealand Dollar (NZD) has reversed off the low of 0.5180 (1.9306) against the British Pound (GBP) as risks improved Wednesday. The overall bullish trend is still in play with expectations of further weakness in the Pound develop as Brexit uncertainty weighs in. The NZ Financial Stability report highlighted ongoing risks to the NZ economy with household debt levels and offshore global exposures the main concerns. ANZ Business Confidence released slightly down on expectations of -37.5 at -32.0 with manufacturing the most positive sector- a net 32% of businesses say they are not optimistic towards growth over the coming year. The NZD was broadly unchanged over both releases. The shambles we continue to see towards Brexit should continue through to Theresa May’s last day in office on the 7th June and beyond. This being said we anticipate the bullish channel to gather momentum and a retest of 0.5200 (1.9250). Today’s NZ annual “Wellbeing” Budget shouldn’t affect currency movement to much with nothing further on the calendar this week.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5158 GBPNZD 1.9387
The interbank range this week has been: NZDGBP 0.5140- 0.5180 GBPNZD 1.9305- 1.9455

The British Pound (GBP) has continued to fall against the New Zealand Dollar (NZD) as Brexit pressures continue to weigh on the currency. The sharp turnaround since early May levels of 0.5005 (1.9980) rolls on. UK Retail Sales offered the Pound a short period of relief after results for the month of March showed a rise in spending to 0.0% from -0.3% markets were expecting. Monday’s UK Spring Bank holiday kept currency volume thin, price extending last week’s momentum to 0.5165 (1.9360). We have nothing on the economic docket this week for the Pound except the ongoing European Elections results and how this will pan out. Tomorrow is a busy day for the kiwi with ANZ Business Confidence and the RBNZ Financial Stability Report to publish. Clients buying GBP should consider levels above 0.5130 (1.9495) with the Pound expected to fall ahead of any long term result with Brexit eventuating.

Exchange Rates
Current Level: 0.5164 (1.9365)
Resistance: 0.5180 (1.9580)
Support: 0.5100 (1.9300)
Last Weeks Range: 0.5082-0.5178 (1.9309-1.9677)

The New Zealand Dollar (NZD) lengthened its hold over the British Pound (GBP) to 0.5152 (1.9410) its third week straight of GBP losses. Brexit concerns have weighed on the Pound again with the two main parties failing to find a common ground with which to move forward. May’s imminent departure seems real now with an announcement to be made later today. The PM is expected to agree with the Tory MP’s that a new contest for leadership will begin on the 10th of June. May has been under enormous pressure following the backlash from her own MP’s following her “new deal” Brexit plan. NZ Retail Sales came in slightly better than expected at 0.7% based on 0.6% markets were predicting but had little effect on price movement. UK yearly CPI came in at 2.1% down on the 2.2% expected with upward pressures on auto fuel prices as well as the govt lifting the government cap on default energy tariffs. UK Retail Sales prints tonight. Buyers of GBP should get amongst it as these prices above 0.5100 (1.9600) won’t last.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5144 GBPNZD 1.9440
The interbank range this week has been: NZDGBP 0.5082- 0.5160 GBPNZD 1.9377- 1.9677

The British Pound (GBP) enters its third week of declines against the New Zealand Dollar (NZD) dropping to 0.5140 (1.9460) Tuesday. Brexit concerns have weighed on the Pound with the two main parties failing to find a common ground with which to move forward. This week’s focus is firmly on UK CPI y/y publishing Wednesday which is expected to see inflation more from 1.9% annually to 2.2%, anything less will throw the Pound further into a hole. Retesting the late April high of 0.5170 (1.9350) looks possible especially if Wednesday’s NZ q/q Retail Sales comes in poor. UK Retail Sales also prints at the end of the week which should reflect a slide to recent positive results.

Exchange Rates
Current Level: 0.5134 (1.9478)
Resistance: 0.5170 (1.9620)
Support: 0.5100 (1.9340)
Last Weeks Range: 0.5051-0.5132 (1.9485-1.9797)

Both the New Zealand dollar (NZD) and the UK Pound (GBP) have been under pressure this week, but it’s the GBP that has suffered the most and as such the NZDGBP exchange rate has made some gains. The pair traded to a high of 0.5131 last night, before retracing some of those gains to open Friday around 0.5110. Pound Sterling weakness has been driven by ongoing Brexit concerns with the two main parties failing to find any common ground with which to move forward. PM May has agreed to set down by June 30th at the latest, opening the way for a leadership contest within the party. All this signals is the potential for much more volatility in the GBP over the coming weeks. The risks are skewed toward further GBP weakness which will drive the NZDGBP cross rate higher. Clients who have been waiting on the side-lines to convert GBP to NZD should consider dealing at the current level.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5106 GBPNZD 1.9585
The interbank range this week has been: NZDGBP 0.5051 – 0.5132 GBPNZD 1.9487 – 1.9797

The British Pound (GBP) edged lower against the New Zealand Dollar (NZD) to close the week at 0.5070 (1.9720). UK Manufacturing impressed Friday releasing at 0.9% the third monthly rise in succession. Overnight the Pound took a turn for the worse, May’s Brexit deal is under siege once again with Tory leadership Johnson and Raab under pressure from the party to veto any further vote. A cross party arrangement looks increasingly unlikely making a mockery of the whole article 50 game plan or lack thereof. Selling GBP to NZD makes good sense currently with prices at a huge low.

Exchange Rates
Current Level: 0.5859 (1.7076)
Resistance: 0.5100 (1.9920)
Support: 0.5020 (1.9620)
Last Weeks Range: 0.4996-0.5083 (1.9672-2.0016)

The British Pound (GBP) continued its bullish run over the New Zealand Dollar (NZD) this week reaching a price of 0.4995 (2.0022) post the RBNZ announcement Wednesday. US- China trade tensions shifted markets to a risk off tone for most of the week pulling the kiwi lower on top of the RBNZ’s surprise move to cut the cash rate. The RBNZ is now 1.50% down from 1.75% in a unanimous vote by the new RBNZ monetary policy committee. Comments made from Orr confirming the move was necessary to counteract the outlook for employment and low inflation on the horizon clearly getting ahead of the game plan. We see rates remaining unchanged until early 2020 where they will drop another 25 points to 1.25% before climbing again in 2022. We see price breaching the pivotal 0.5000 (2.000) zone as inflation expectations diminish over coming months. Sellers of GBP know we are trading at good levels to sell GBP. Nothing significant on the economic docket next week except UK unemployment.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5071 GBPNZD 1.9720
The interbank range this week has been: NZDGBP 0.4995- 0.5081 GBPNZD 1.9680- 2.0022

The British Pound (GBP) climbed higher over the week against the New Zealand Dollar (NZD) on poor NZ employment data and risk off flow on the back of tensions rising on the China-US trade front. The Bank of England (BoE) kept their benchmark rate unchanged at 0.75% Thursday in a unanimous decision of 0-9. The bank have set monetary policy at a 2% inflation target and rising through 2021. In a revised positive set of forecasts investors will be upgrading expectations for growth. Carney said unemployment will fall further with the economy expected to generate more growth. Today’s inflation expectations will be overlooked in favour for the RBNZ cash rate announcement tomorrow. With employment numbers down and the recent Capital Gains Tax being scrapped and this week’s tensions rising in the US-China tariff war affecting world growth its anyone’s guess as to if the RBNZ will drop rates today or wait for further economic clues. Transferring GBP to NZD currently offers very attractive prices.

Exchange Rates
Current Level: 0.5040 (1.9842)
Resistance: 0.5070 (1.9910)
Support: 0.5025 (1.9730)
Last Weeks Range: 0.5022-0.5166 (1.9360-1.9911)

The British Pound (GBP) remained subdued on the release of the Bank of England (BOE) meeting. The damage to the New Zealand Dollar (NZD) was done earlier in the week, the GBP rallying from 0.5150 (1.9400) to 05075 (1.9700) currently, a 25th October 2018 low. The Bank of England (BoE) kept their benchmark rate unchanged at 0.75% overnight in a unanimous decision of 0-9. The bank has set monetary policy at a 2% inflation target and rising through 2021. In a revised positive set of forecasts investors will be upgrading expectations for growth. Carney said unemployment will fall further with the economy expected to generate more demand. He also went on to say the timing around Brexit now late October would have volatile results for economic data and how it concludes will be the biggest factor weighing on outlook. The rally in the Pound looks to continue and retest 0.5000 (2.000) levels soon.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5077 GBPNZD 1.9696
The interbank range this week has been: NZDGBP 0.5068- 0.5170 GBPNZD 1.9340- 1.9729

With Brexit headlines grinding to a halt over the past week or so we have seen less movement in the New Zealand (NZD), British Pound (GBP) cross. May could still be subjected again to another leadership challenge in the coming weeks, the news depleting the GBP late last week as price returning to 0.5160 (1.9390) after registering a yearly low of 0.5100 (1.9615) earlier in the week. This week (BoE) Bank of England official cash rate holds key interest – voting is expected to be unanimous at 0-9 in favour of no change from 0.75%. NZ quarterly employment data is Wednesday, we are expecting an upbeat result.

Exchange Rates
Current Level: 0.5154 (0.9402)
Resistance: 0.5170 (1.9600)
Support: 0.5100 (1.9340)
Last Weeks Range: 0.5097-0.5170 (1.9342-1.9619)

With a pause in Brexit headlines currently, and some benign UK data of late, there hasn’t been much to driver the UK Pound (GBP), apart from talk that PM May will likely face a leadership challenge. That chatter saw the GBP lose some ground last night, and it helped to lift the NZD/GBP pair off its overnight low of 0.5116 (1.9546), to currently trade at 0.5145 (1.9436). There is little on the economic calendar from NZ this week, while from the UK we have some second tier data that shouldn’t have much impact. We expect the pair to continue to range between the broad parameters of 0.5100 and 0.5200 (1.9608 and 1.9231).

Exchange Rates
Current Level: 0.5139 (0.9458)
Resistance: 0.5200 (1.9608)
Support: 0.5100 (1.9231)
Last Weeks Range: 0.5116-0.5171 (1.9339-1.9546)

No significant news regarding Brexit has kept the New Zealand Dollar (NZD), British Pound (GBP) in a sideways pattern. Opening the week at the 0.5170 (1.9340) area price movement supported the GBP easing to 0.5150 (1.9420) before risk entered the market fray Wednesday with equities markets all showing positive overnight returns, the kiwi benefiting back retracing to 0.5185 (1.9280) UK jobs numbers for March released overnight with the unemployment rate unchanged at 3.9%- it has not been lower than this since 1974. In news just out- NZ CPI q/q dropped to 0.1% from 0.3% expected and sank the kiwi immediately to 0.5115 (1.9550) before recovering slightly back to 0.5140 (1.9450)

Exchange Rates
Current Level: 0.5141 (0.9451)
Resistance: 0.5180 (1.9560)
Support: 0.5110 (1.9300)
Last Weeks Range: 0.5343-0.5181 (1.9301-1.9443)

As about as choppy as it gets! The New Zealand Dollar (NZD) and British Pound will head into its 3rd week of a directionless theme. In fact, we can go back to mid-February since we have seen any decent momentum in either direction. This clearly makes perfect sense with our daily slab of headline Brexit news followed by head scratching and more head scratching. The cross is trading at the bottom of the range we mention of – 0.5150 (1.9400) if this is anything to go off we should see a reversal, one of 6, over the recent period with price moving back to 0.5240 (1.9070). So to confirm – the UK won’t bow out of the EU today (12 April) in a ball of fire instead an extension to 31 October has been formally agreed. With nothing still negotiated and Theresa May unable to get any support for her deal she will keep trying. Tensions are running high in Westminster as levels of anxiety, anger and frustration after a long historic period of negotiating where nothing has concluded. A cross party compromise is sought to resolve differences in policy but now that they have 6 months to ponder what next MP’s will take a breather.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5148 GBPNZD 1.9425
The interbank range this week has been: NZDGBP 0.5143- 0.5177 GBPNZD 1.9315- 1.9443

The New Zealand Dollar (NZD), British Pound (GBP) pair has continued to consolidate around 0.5160 (1.9380) since Wednesday, as markets wait for meaningful Brexit news. Theresa May believes she is on the brink of a breakthrough with Labour MP’s with further talks about to kick off again. She will fly to Paris and Berlin before the emergency European summit on Wednesday to make a new case for extending article 50 for just a few more months. Data this week consists of UK GDP m/m and manufacturing Production Wednesday. We feel the pair is building for a large shift either way once negotiations and Brexit blows over. Certainly 0.5130 (1.9500) is a huge bottom – if we were to drop through support here anything is possible.

Exchange Rates
Current Level: 0.5153 (1.9406)
Resistance: 0.5200 (1.9500)
Support: 0.5130 (1.9250)
Last Weeks Range: 0.5137-0.5204 (1.9217-1.9466)

The New Zealand Dollar (NZD) has consolidated around the 0.5170 (1.9350) area as markets wait for more riveting Brexit headlines. The British Pound lost a little ground overnight as traders pondered the Brexit process for answers. By the narrowest of margins- 313 votes to 312 UK legislation was passed in favour of the UK government to request an extension to the Brexit process. The bill will ensure the UK won’t crash out of the EU without a deal being agreed on. Finally some progress although it will be the ultimate decision of the EU to grant any extension. The Pound weakened during Thursday’s European and NY trading sessions when the March PMI – Purchasers Managers Index printed down at 48.9 based on expectations of 51.0 signalling a reduction in business activity across the service sector. Buying Pounds above 0.5100 (1.9600) still represents attractive levels for converting your NZD with prospects of a stronger GBP once Brexit is negotiated.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5163 GBPNZD 1.9368
The interbank range this week has been: NZDGBP 0.5137- 0.5246 GBPNZD 1.9061- 1.9466

The British Pound (GBP) surged overnight against the New Zealand Dollar (NZD) to 0.5185 (1.9290) from 0.5245 (1.9070) and is the best performer on the day. Parliament MP’s will again vote on four Brexit options in the second round of indicative voting as the British are still split down the middle and try to find a way out of the political deadlock. UK Manufacturing released up on expectations of 51.2 to 55.1 as stockpiling ahead of a possible no deal Brexit sent the sector to a 13 month high for March. Businesses have been hoarding raw materials and supplies at UK borders amid checks would hit crucial supply chains. Price is trading around the 0.5195 (1.9250) area with the outcome of voting to no-doubt keep price bouncing around.

Exchange Rates
Current Level: 0.5192 (1.9260)
Resistance: 0.5250 (1.9500)
Support: 0.5130 (1.9050)
Last Weeks Range: 0.5126-0.5249 (1.9050-1.9509)

The British Pound (GBP) has been as volatile as ever this week, bouncing around on every Brexit related news bulletin. The New Zealand Dollar (NZD) fell from grace Wednesday after RBNZ governor Orr left the cash rate unchanged at 1.75 stating the next shift to rates would be down. This came as a surprise to analysts based on his earlier suggestions the economy would remain reasonably robust and rates would stay at 1.75% until 2020. The kiwi lost over 100 points on the release falling back to 0.5150 (1.9415) from 0.5240 (1.9090) The Brexit sideshow wreck continues with MP’s still unable to agree on a clear decision after they voted on eight different possible scenarios overnight including leaving without a deal, seeking a common union and revoking Britain’s exit from the EU. Not one of the eight voting options gained a parliamentary majority.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5188 GBPNZD 1.9275
The interbank range this week has been: NZDGBP 0.5125- 0.5249 GBPNZD 1.9048- 1.9512

Over the past five weeks it has been near impossible to determine price shifts in the New Zealand Dollar, British Pound (NZD/GBP) with Brexit occupying news headlines the Pound has appreciated and depreciated many times. Currently trading around the 0.5235 (1.9100) area the Pound has again been put under pressure as Theresa May struggles to gain enough parliamentary support for a third vote. Outside Brexit the RBNZ cash rate announcement Wednesday holds the most interest for investors as we try to determine Ors monetary policy direction. ANZ business confidence is Thursday before UK Current Account Friday. If May’s vote does actually happen this week, we may see a retest of 0.5290 (1.8900).

Exchange Rates
Current Level: 0.5239 (1.9087)
Resistance: 0.5263 (1.9420)
Support: 0.5150 (1.9000)
Last Weeks Range: 0.5150-0.5274 (1.896-1.9418)

The British Pound (GBP) has continued its decline off the weekly open against the New Zealand Dollar (NZD) to 0.5265 (1.9000) in the wake of further Brexit headlines. UK data this week has been good with unemployment dropping to 3.9% and CPI also printing at 1.9% from 1.80% expected. Retail Sales came in at an exceptional 0.4% m/m after -0.4% was expected by markets. But all this was overshadowed with Brexit news pushing the Pound lower. Even as the Bank of England released their Cash rate (unchanged at 0.75%) the Pound was unmoved. The Kiwi received a further boost yesterday after 4th quarter GDP printed at an unexpected 0.6%. The level of 0.5280 (1.8950) holds reasonable resistance, we expect the Pound to push back next week.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5247 GBPNZD 1.9058
The interbank range this week has been: NZDGBP 0.5144- 0.5274 GBPNZD 1.8958- 1.9437

The New Zealand Dollar (NZD) moved higher off this week’s open reaching 0.5200 (1.9230) early Tuesday against the British Pound (GBP) before easing back to 0.5168 (1.9350). The Pound will get most of the attention again this week with another vote by MP’s on whether to accept Theresa May’s rehashed deal. The speaker of the house Bercow has said he will rule out the 3rd vote unless the deal is considerably different to the last one rejected last week. Theresa May has cautioned this week’s vote may be delayed to give her more time to prepare. With good chances of a deal being done this has held the Pound up at reasonable levels, should we get a scenario where things turn ugly we will see the GBP depreciate wildly below 0.5000 (2.0000).

Exchange Rates
Current Level: 0.5158 (1.9387)
Resistance: 0.5265 (1.9540)
Support: 0.5120 (1.9000)
Last Weeks Range: 0.5127-0.5263 (1.9001-1.9506)

A vote a day keeps Brexit away. The British Pound (GBP) has easily been the most volatile currency this week. Against the New Zealand Dollar (NZD) we have seen price move as high as 0.5263 (1.9000) and to a low of 0.5128 (1.9500), currently trading around 0.5160 (1.9380). Further voting took place overnight to decide on delaying the UK exit from the EU on the 27th of March – coming in at 412 to 202 to delay by up to 3 months. This won’t happen unless MP’s vote her deal in next week. If her deal is rejected again (3rd time) she will ask the EU for a longer extension as long as the other 27 EU members agree. The move towards delaying is working out well for the Pound as this represents far less uncertainty than a disorderly Brexit scenario. This being the case we expect the Pound to tick higher across the board and possibly to retest the early November 2018 low of 0.5115 (1.9550).

Exchange Rates
The current interbank midrate is: NZDGBP 0.5156    GBPNZD 1.9395
The interbank range this week has been: NZDGBP 0.5126- 0.5263    GBPNZD 1.8999- 1.9508

The British Pound (GBP) recovered off last week low of 0.5230 (1.9115) to push back to 0.5155 (1.9400) against the New Zealand Dollar (NZD). A last minute pre 12 March parliament vote is on the cards as Theresa May tries one more time. May is on route to meet European Commission President Juncker in Strasbourg. Analysts are suggesting negotiations have reached a point where there might be an agreement. Certainly with the Pound spiking overnight the sentiment barometer is high. UK m/m GDP prints tonight along with Manufacturing Production. News just in: PM May has supposedly secured legally binding changes to her Brexit deal that will strengthen and possibly improve her withdrawal agreement.

Exchange Rates
Current Level: 0.5164 (1.9365)
Resistance: 0.5200 (1.9540)
Support: 0.5120 (1.9220)
Last Weeks Range: 0.5135-0.5257 (1.9023-1.9474)

The New Zealand Dollar, British Pound cross (NZD/GBP) has consolidated around 0.5160 (1.9370) over what has been a quiet week in the pair. Early today the ECB dropped its 2019 growth and inflation forecasts for this year and 2020 bringing on a risk averse tone to markets with the NZD falling on the news to 0.5175 (1.9320). Midweek we had the fortnightly Global Dairy Auction which was up a total of 3.3%, this is the 7th time in succession we have positive results, which should hopefully flow through to higher milk solid prices. Remember parliament will vote next week (12th) on Theresa’ May’s Brexit deal. If they vote a “no deal” brexit they will then vote on an extension to article 50 ending 29 March. The EU are not fans of doing this.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5163   GBPNZD 1.9368
The interbank range this week has been: NZDGBP 0.5131- 0.5184    GBPNZD 1.9288- 1.9488

The New Zealand Dollar (NZD), British Pound (GBP) is making moves to the topside this week after reaching 0.5130 (1.9490) Monday. Generally the Pound has been weaker against the US Dollar even though Trump complaints that its to high. Bank of England (BoE) Carney speaks tomorrow before the House of Lords before members Saunders, Cunliffe and Tenreyro Thursday. No doubt we could see pressure put on the Pound with a possible retest of 0.5200 (1.9240). Current price is bang on 50% retracement and a key fibonacci level of the current 0.5180 (1.9315) from the October 2018 low of 0.4890 (2.0460) and the high of 12 December 2018 at 0.5520 (1.8120). We have often seen the continuation of the original trend develop with this pattern.

Exchange Rates
Current Level:0.5174 (1.9327)
Resistance: 0.5200 (1.9540)
Support: 0.5120 (1.9230)
Last Weeks Range: 0.5117-0.5260 (1.9013-1.9541)

The New Zealand Dollar (NZD) extended its run lower against the British Pound (GBP) to reach 0.5120 (1.9530) as the market priced out the prospects of a “no deal” Brexit at the end of March. NZ Trade Balance reported a deficit of 914 Million which turns out to be the largest deficit for a January month on record deteriorating the kiwi somewhat before ANZ Business confidence also showed a pessimistic view of business growth over the next year, which also hurt the NZD. UK Manufacturing prints tonight. It’s all about Brexit at the moment – if things can remain positive towards the end of this month we could see prices go below 0.5000

Exchange Rates
The current interbank midrate is: NZDGBP 0.5139    GBPNZD 1.9460
The interbank range this week has been: NZDGBP 0.5117- 0.5278    GBPNZD 1.8946- 1.9540

The New Zealand Dollar (NZD) is the clear outperformer trading to 0.5278 (1.8946) Monday against the British Pound (GBP) as progress has been made on a trade deal between the US and China boosting risk currencies. Retail Sales also published considerably up on the expected 0.5% to 1.7% offering the kiwi further support. Meanwhile Theresa May and Angela Merkel have discussed delaying Brexit offering the Pound some relief as the pair eased back to 0.5260 (1.9015) Tuesday morning.

Exchange Rates
Current Level: 0.5239 (1.9087)
Resistance: 0.5280 (1.9270)
Support: 0.5190 (1.8940)
Last Weeks Range: 0.5186-0.5311 (1.8830-1.9284)

The British Pound (GBP) has extended its run against the New Zealand Dollar (NZD) to 0.5210 (1.9190) after renewed optimism around Theresa May’s outlook and recent efforts. The British Prime Minister has made it clear she doesn’t want to depart the EU in a chaotic manner. The number of employed people in the UK has continued to increase with a record number of people employed in the last quarter of 2018. Obviously watch for Brexit headlines to drive price for the next while, 0.5150 (1.9400) is the next significant level of support in the cross if further positive negotiations. UK Inflation Report Hearing is next week.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5217    GBPNZD 1.9168
The interbank range this week has been: NZDGBP 0.5210- 0.5338    GBPNZD 1.8731- 1.9193

The British Pound (GBP) has reversed  some of last week’s losses against the New Zealand Dollar travelling back down towards 0.5300 (1.8860) Tuesday. After last week’s RBNZ comments and risk on sentiment the kiwi pushed to a 15 January high of 0.5360 (1.8670). As we have said, until Brexit certainty becomes a thing most GBP crosses will remain choppy well through the 29th March deadline. Overnight we have seen the odds increase of article 50 being extended after seven labour MP’s broke from the party. This will hamper any chances of Labour pushing a general election to negotiate Brexit. Theresa May also received a telling off by four cabinet ministers to stop using the “no deal” Brexit scenario as a negotiating tactic. Businesses and manufacturers need certainty so perhaps it’s time for May to properly rule out this option entirely. Just UK employment figures on the calendar this week and more bouncy action around current levels.

Exchange Rates
Current Level: 0.5301 (1.8864)
Resistance: 0.5360 (1.9240)
Support: 0.5200 (1.8660)
Last Weeks Range: 0.5217-0.5358 (1.8662-1.9168)

It didn’t take long for a New Zealand Dollar (NZD), British Pound (GBP) correction Tuesday night with GDP figures printing worse than expected. Price moved from 0.5235 (1.9100) to 0.5430 (1.8710) reasonably swiftly through to Friday assisted by a rampant NZD. The RBNZ published unchanged at 1.75% but it was the less dovish comments from Adrian Orr which saw the kiwi turn bullish. Orr wasn’t prepared just yet to downgrade the outlook like other central banks have done lately instead saying the economy was well balanced. We still think the next shuffle from the RBNZ will be done but this more than likely won’t happen until late 2020. The Pound it expected to remain under huge pressures until the 29-march deadline with the Irish backdrop staying centre stage.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5329    GBPNZD 1.8765
The interbank range this week has been: NZDGBP 0.5216- 0.5352    GBPNZD 1.8684- 1.9170

The British Pound (GBP) was well supported overnight against the New Zealand Dollar (NZD) in the wake of the (BoE) Bank of England cash rate announcement. Strange but true as we see price in the pair move above 0.5235 (1.9100) to hit a high of 0.5205 (1.9210) this morning. The BoE showed plenty of dovishness as they downgraded the growth predictions from 1.7% to 1.2% for 2019. The move reflects the weaker global footing and ongoing uncertainty with how Brexit will play out. So the Central bank seems fairly unlikely to raise rates this year but let’s see how things develop in the second half after Brexit is sorted. The previous low of 0.5145 (1.9440) will act as support in the pair should Brexit somehow strengthen the Pound further.

Exchange Rates
Current Level: 0.5234 (1.9105)
Resistance: 0.5260 (1.9240)
Support: 0.5200 (1.9020)
Last Week’s Range: 0.5196-0.5331 (1.8759-1.9244)

The British Pound (GBP) was well supported overnight against the New Zealand Dollar (NZD) in the wake of the (BoE) Bank of England cash rate announcement. Strange but true as we see price in the pair move above 0.5235 (1.9100) to hit a high of 0.5205 (1.9210) this morning. The BoE showed plenty of dovishness as they downgraded the growth predictions from 1.7% to 1.2% for 2019. The move reflects the weaker global footing and ongoing uncertainty with how Brexit will play out. So the Central bank seems fairly unlikely to raise rates this year but let’s see how things develop in the second half after Brexit is sorted. The previous low of 0.5145 (1.9440) will act as support in the pair should Brexit somehow strengthen the Pound further.

Exchange Rates
The current interbank midrate is: NZDGBP 0.5202    GBPNZD 1.9223
The interbank range this week has been: NZDGBP 0.5201- 0.5331    GBPNZD 1.8758- 1.9224

View NZDGBP charts

Risk currencies last week did well with equities improving based on higher than expected US earnings results. The New Zealand Dollar (NZD), British Pound (GBP) cross stretched higher with Brexit woes continuing trading from 0.5190 (1.9270) to 0.5280 (1.8930). A couple of key drivers this week firstly with NZ employment data Thursday followed by the Bank of England (BoE) Official Cash Rate Friday should give punters plenty of information to determine rough direction over the next couple of weeks at least. We think a retest of early January prices around 0.5380 (1.8600) looks possible but who knows with Brexit overshadowing most economic data of late.

Exchange Rates
Current Level: 0.5271 (1.8970)
Resistance: 0.5305 (1.9050)
Support: 0.5250 (1.8850)
Last Weeks Range: 0.5181-0.5313 (1.8823-1.9302)

Brexit, Brexit, Brexit, continues to dictate direction. The overnight vote to not delay Brexit has seen the GBP fall, with the NZD up at 0.5234. Now at 0.5215 as we look for more volatility when UK PM May heads back to Brussels for more negotiations this weekend.

Exchange Rates
Current Level: 0.5216 (1.9172)
Resistance: 0.5247 (1.9425)
Support: 0.5150 (1.9055)
Last Weeks Range: 0.5150-0.5250 (1.9053-1.9425)

View NZDGBP charts

The NZD lost ground overnight on this cross and is now around 0.5178 after the chances of a no-deal Brexit appeared to fade on the back of comments from some Eurozone officials saying they are open to extending the Brexit deadlines.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5156   GBPNZD 1.9398
The interbank range this week has been:NZDGBP 0.5148- 0.5248   GBPNZD 1.9054- 1.9425

View NZDGBP charts

The NZD has slipped marginally on this cross over the last week, although still in a broader sideways pattern, tomorrows CPI result may have an influence but as always Brexit news will dominate direction.

Exchange Rates
Current Level: 0.5217 (1.9168)
Resistance: 0.5275 (1.9250)
Support: 0.5195 (1.8960)
Last Weeks Range: 0.5195-0.5372 (1.8612-1.9246)

View NZDGBP charts

The British Pound (GBP) continues to outperform during a week when Theresa May’s Brexit deal was voted down in high drama. The New Zealand Dollar (NZD) has been brushed aside in favour of a strengthened Pound highlighting the upside with the uncertainty around risks now far less of a worry with the market believing the chance of a no deal Brexit significantly reduced. Travelling from 0.5312 (1.8820) around the Brexit Parliament vote the Pound has surged to 0.5200 (1.9230) these are early November levels. PM May will still have a couple of days up her sleeve to figure out her plan B when officials meet again on Monday. This could be tough given the EU have already said they won’t sway far from the original deal draft. Brexit will remain in the headlines for some time.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5208   GBPNZD 1.9200
The interbank range this week has been:NZDGBP   GBPNZD 1.8613- 1.9248

View NZDGBP charts

It’s the day of reckoning for Theresa May as her Brexit deal gets either voted in or thrown out tonight. If the deal is rejected by parliament MP’s, the default position is that the UK will leave the EU on the 29th of March 2019 with no deal. Some say this may not be a bad thing enabling the UK to make a clean break away. If a “no deal” eventuates today Jeremy Corbyn will call for a general election by calling for a vote of no confidence so that labour can get into power and renegotiate Brexit. If that fails a referendum will be called to resolve the issue. All this will take a huge amount of time making markets and the British Pound trade sporadically for months until finally a result. It’s hard to see the British Pound (GBP) rallying from its current precarious position against the New Zealand Dollar (NZD) so price will retrace the December moves back to 0.5500 (1.8200) one would expect.

Exchange Rates
Current Level: 0.5302 (1.8860)
Resistance: 0.5515 (1.9120)
Support: 0.5230 ( 1.8130)
Last Weeks Range: 0.5268 -0.5375 (1.8603-1.8981)

View NZDGBP charts

The New Zealand Dollar (NZD), British Pound (GBP) has continued to track a consolidation mode since before Christmas trading around the 0.5300 (1.8900) area. Last week the pair surged to 0.5400 (1.8550) after Apple announced a drop to forecasted sales sent markets into a frenzy with risk associated currencies all coming off. The Pound recovered back to current levels where investors wait for Bank of England governor Carney’s question and answer session tomorrow. With Brexit still weighing on the Pound in the background we see possible retracement of the level back around 0.5500 (1.8200).

Exchange Rates
Current Level: 0.5294 (1.8889)
Resistance: 0.5312 (1.8980)
Support: 0.5269 (1.8822)
Last Weeks Range: 0.5268 0.5324 (1.8784-1.8982)

View NZDGBP charts

The nine member Bank of England (BoE) committee agreed unanimously in a vote of 0-9 to hold rates at 0.75% this morning rallying the British Pound off the high of 0.5370 (1.8630) against the New Zealand Dollar (NZD) to 0.5340 (1.8720). The Central bank have set the inflation target at 2.0% as a way to help maintain growth and keep employment strong. This week Theresa May has set a date of 14 January 2019 saying to parliament members, when they have the vote members will need to reflect carefully on what’s in the best interest for the country. It’s not a perfect deal but a compromise. Retail Sales helped boost the Pound earlier than figures showed a 1.4% increase on sales volume compared to the 0.3% we were expecting. We awaits further clarity on Brexit next week to gauge further direction.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5351   GBPNZD 1.8688
The interbank range this week has been:NZDGBP 0.5312- 0.5440   GBPNZD 1.8380- 1.8823

View NZDGBP charts

The New Zealand Dollar (NZD) returned to its recent lows of 0.5400 (1.8550) against the British Pound in what looks to have come from positive UK news around Brexit. It’s just 14 weeks until the UK leave the EU. Theresa May has set a date of 14 January 2019 last night saying to parliament members, when they have the vote members will need to reflect carefully on what’s in the best interest for the country. It’s not a perfect deal but a compromise she went on to say. The cross sits just below the top of the recent bullish trend line suggesting momentum could edge back towards 0.5500 (1.8200) this week if UK data doesn’t print well. Both countries are expecting GDP results to publish but the main event will be the Bank of England Cash Rate release which is expected to draw a vote of 0-9 in favour of unchanged.

Exchange Rates
Current Level: 0.5391 (1.8550)
Resistance: 0.5520 (1.8630)
Support: 0.5390 (1.8120)
Last week’s Range: 0.5377-0.5517 (1.8127-1.8598)

View NZDGBP charts

There are two sides to the British Pound story this week. The pre confidence vote price movement in the New Zealand Dollar (NZD), British Pound (GBP) pair higher to 0.5520 (1.8140) and the post movement of Theresa May surviving the no confidence vote with price reversing back near to the weekly open of 0.5420 (1.8440). Theresa May has openly suggested she is not expecting any breakthroughs when she meets the Brexit crew soon at the EU summit. We still suggest there is plenty of downside left in the Pound so a retest of 0.5520 (1.7140) then 0.5740 (1.7430) the 3 September 2017 low.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5411   GBPNZD 1.8480
The interbank range this week has been:NZDGBP 0.5379- 0.5517   GBPNZD 1.8125- 1.8591

View NZDGBP charts

With further Brexit turmoil the British Pound (GBP) has plunged to new lows overnight in the wake of tomorrow’s parliamentary vote possibly to be delayed until January. The New Zealand Dollar (NZD) has regained momentum from 0.5400 (1.8530) to travel to 0.5500 (1.8215). The Pound is struggling to catch a break with Manufacturing figures coming in weak adding to the demise. It’s a long road back to 0.5000 (2.000) from here, price action could well continue to 0.5750 (1.7400) based on Brexit.

Exchange Rates
Current Level: 0.5471 (0.6463)
Resistance: 0.5500 (1.8620)
Support: 0.5370 (1.8177)
Last Week’s Range:0.5370-0.5472 (0.8272-1.8620)

View NZDGBP charts

The New Zealand Dollar (NZD) reversed off its highs of 0.5473 (1.8270) midweek against the British Pound (GBP) after a little support crept back in for the GBP. Theresa May is still unlikely to obtain the votes she needs to get her Brexit deal ok’d by Parliament – the deadline looms for 11 December. We are still trading in the bullish trend since early October with more topside momentum to continue. We would need to see a retracement through 0.5320 (1.8800) to support flows lower.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5380   GBPNZD 1.8587
The interbank range this week has been:NZDGBP 0.5370- 0.5470      GBPNZD 1.8280- 1.8620

View NZDGBP charts

As the December 11 deadline looms for the Brexit deal the British Pound (GBP) has lost further ground during the later stages of last week and Monday against the New Zealand Dollar (NZD) travelling through to 0.5460 (1.8320). Predominantly negative headlines continued to drag the Pound to levels not seen since September 2017. Tonight’s UK construction figures holds the most interest on this week’s docket with a quiet week of data for NZ. We think the cross will continue to track higher with a possible retest of 0.5760 (1.7360) July 2017 levels.

Exchange Rates
Current Level: 0.5448 (1.8355)
Resistance: 0.5525 (1.8670)
Support: 0.5356 (1.8100)
Last week’s Range: 0.5307 -0.5457 (1.8325-1.8843)

View NZDGBP charts

Data published this week has been supportive of the British Pound (GBP) but in a series of higher lows and higher highs the New Zealand Dollar (NZD) has had the edge breaking multi month levels to 0.5385 (1.8570). Brexit headlines continue to make the any Pound cross shaky with the British Parliament vote looming on December 11 anything could happen. We suspect further negative news will dominate a downside path for the Pound for the meantime. Buyers of GBP have had a good run above 0.5100 levels since the pair dropped below 0.5000 in early October – full your boots at current levels.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5368 GBPNZD 1.8628
The interbank range this week has been:NZDGBP 0.5274- 0.5385  GBPNZD 1.8571- 1.8960

View NZDGBP charts

The New Zealand Dollar (NZD) softened on the weekly open against the British Pound (GBP) after NZ Retail Sales published down on expectation taking the pair to 0.5310  ( 1.8840). Brexit headlines continue to make this cross potentially extremely volatile. Theresa May over the following few days will try and convince the UK parliament to go with the agreed draft after the EU supported it over the weekend. RBNZ Adrian Orr speaks tomorrow on the Financial stability report followed by ANZ Business confidence Thursday.

Exchange Rates
Current Level: 0.5280 (1.8940)
Resistance: 0.5370 (1.9270)
Support: 0.5190 (1.8623)
Last week’s Range: 0.5268-0.5367 (1.8630-1.8980)

View NZDGBP charts

After positive Brexit news Thursday the British Pound (GBP)  pushed higher against the New Zealand Dollar (NZD) to 0.5270 (1.8970) where is currently sits. Signs that a Brexit deal may be within sight has taken the pair off the early week low of 0.5370 (1.8630) the long term bearish trend from October 2017. The meeting with Theresa May and Juncker seemed to go well with May saying she has made good progress, but warned her government that a note against Brexit would men risking no Brexit deal at all. Next week is a light week on the docket with only tier one Bank Stress Test Results to publish. G20 meeting in Argentina starts on the Thursday.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5288   GBPNZD 1.8910
The interbank range this week has been:NZDGBP 0.5268- 0.5364   GBPNZD 1.8640- 1.8980

View NZDGBP charts

The New Zealand Dollar (NZD) remained strong as it headed into the weekly close against the British Pound (GBP) amid further Brexit uncertainty. Closing the week at 0.5355 (1.8670) the highest level since October 2017. Theresa May held tough after her chief Brexit negotiator stepped down. She will no doubt continue to push forward with her plan to get a deal across the line. Data this week in the pair is light with only UK Treasury Committee Hearing tonight. This week holds another uncertain few days for the Pound, the next major support lies at 0.5750 (1.7400)

Exchange Rates
Current Level: 0.5320 (1.8795)
Resistance: 0.5370 (1.8860)
Support: 0.5300 (1.8630)
Last Week’s Range: 0.5186-0.5369 (1.8627-1.9281)

View NZDGBP charts

The British Pound (GBP) is attracting major attention at the moment with ongoing Brexit negotiations and now a draft agreement from Theresa May. As markets are fixated on fresh Brexit related news the Pound hangs off every fresh headline. Against the New Zealand Dollar (NZD) we have seen no shortage of price action with the pair rallying to October 2017 levels of 0.5350 (1.8680) with no stoppage in sight. Markets almost ignored the UK Retail Sales release last night coming in a terrible -0.5% against 0.2% expected with the GBP already in free fall. When Brexit headlines reduce, and a proper solution is agreed, we will see stability in the Pound and in the NZD/GBP cross, but for now over the next two months until the Jan 21- 2019 deadline things will be rough. Anyone buying Pounds should fill your boots as these levels over 0.5300 could disappear in a heartbeat.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5344   GBPNZD 1.8712
The interbank range this week has been:NZDGBP 0.5184- 0.5333  GBPNZD 1.8750- 1.9290

View NZDGBP charts

We saw a further sell off in the British Pound (GBP) to 0.5235 (1.9100) Monday a continuation of last week’s resuming decline against the New Zealand Dollar (NZD) as Brexit woes came back to haunt the Pound. Chief Brexit negotiator briefed the EU last night that there has been no progress with the Irish Border following negotiations. Unless progress is made by Wednesday a draft deal signed this month at the EU summit looks unlikely. UK yearly CPI releases Wednesday and Retail Sales Thursday to possibly offer support back into the Pound. As Brexit negativity continues the Pound should go lower with a possible retest of 0.5285 (1.8920) this week.

Exchange Rates
Current Level: 0.5224 (1.9142)
Resistance: 0.5245 (1.9560)
Support: 1.5110 (1.9070)
Last Week’s Range:0.5090-0.5246 (1.9061-1.9645)

View NZDGBP charts

A lack of positive Brexit related news along with fantastic NZ Employment number has pushed the New Zealand Dollar (NZD) to 0.5178 (1.9310) against the British Pound (GBP). NZ unemployment dropped from 4.4% to 3.9% shifting the pair from 0.5090 (1.9650) earlier in the week. The RBNZ kept rates unchanged as expected Adrian Orr reiterating that we would see no change to policy until well into 2019-2020. A retest of 0.5222 (1.9150) almost looks a done deal with the Pound (GBP) dropping in value the fifth straight week since 0.4890 (2.0460) days of early October.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5172   GBPNZD 1.9334
The interbank range this week has been:NZDGBP 0.5082- 0.5184   GBPNZD 1.0712- 1.0859

View NZDGBP charts

Brexit headlines boosted the British Pound (GBP) higher off the open Monday to 0.5100 (1.9610) against the New Zealand Dollar (NZD) but has edged higher during the London trading session. UK Services Purchasing Managers Index (PMI) printed down on expectations at 52.2 based on 53.4 markets were expecting showing a seven month low as firms brace for a slow 2019, the result the poorest since the 2016 Brexit referendum. Interest this week will be with Thursday’s RBNZ announcement and Fridays monthly UK GDP figures. Price action over the week could be anywhere if we throw Brexit into the mix.

Exchange Rates
Current Level: 0.5100 (1.9610)
Resistance: 0.5170 (1.9650)
Support: 0.5090 (1.9350)
Last Week’s Range: 0.5082 -0.5169 (1.9345-1.9678)

View NZDGBP charts

The New Zealand Dollar (NZD), British Pound (GBP) pair continued last week push higher from the 0.5085 (1.9660) open launching itself to 0.5168 (1.9350) Wednesday a nine week high. New Zealand Business confidence was benign with UK Manufacturing printing softer than forecast. The Pound surged back towards the open on positive Brexit headlines before the Bank of England Announcement. In a 9-0 vote the Central Bank left rates on hold at 0.75% the Pound rallying back to 0.5145 (1.9440). We are a distance from the 0.5000 (2.000) phycological seen two weeks ago, Brexit holds the key to testing this support again.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5126   GBPNZD 1.9510
The interbank range this week has been:NZDGBP 0.5045 – 0.5169   GBPNZD 1.9345 – 1.9822

View NZDGBP charts

The British Pound (GBP) continues to remain on the backfoot against the New Zealand Dollar (NZD) with brexit uncertainty causing the Pound much grief. After reaching a low of 0.4887 (2.0460) on the 10th of October price action has been all one way as sentiment towards the Pound remains subdued – travelling back through 0.5000 (2.000) last Thursday to reach 0.5090 (1.9650) midday Friday. NZ Trade Balance published Thursday showing the largest deficit (1.6B) on NZ records but surprisingly only had a small impact on the kiwi. We still expect a fall back under 0.5000 as the Brexit outcome improves but suspect this could be a while off with no clarity on a future deal with the EU in sight.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5082   GBPNZD 1.9677
The interbank range this week has been:NZDGBP 0.5025 – 0.5106  GBPNZD 1.0751 – 1.0870

View NZDGBP charts

Deal or no deal? If we knew that answer we’d have a much better idea about where the Great British Pound (GBP) was heading. In the meantime, headlines and swings in sentiment are driving the GBP back and forth. In the first week of this month optimism that a deal would be agreed helped the NZDGBP trade all the way down to 0.4884. But over the past week that optimism has been waning and as a result the GBP has softened, with pair trading back above 0.5000 in the past 24 hours. Strong NZ inflation data released on Tuesday also helped in this recovery, as did a weaker UK inflation reading on Wednesday, but Brexit sentiment is also playing a major part. There is some resistance not too far away, around the 0.5050 area, and unless we get some really negative Brexit headlines, I suspect that will cap the pair for now.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5019   GBPNZD 1.9925
The interbank range this week has been:NZDGBP 0.4915 – 0.5029  GBPNZD 1.9884 – 2.0346

View NZDGBP charts

The British Pound (GBP) has slipped further, continuing last week’s weak performance against the New Zealand Dollar (NZD) dropping to 0.4985 (2.0060) as the kiwi eyes the psychological barrier of 0.5000. Brexit news has not helped the Pound gain any real momentum allowing the kiwi to push higher. NZ quarter CPI figures released earlier today at 0.9% higher than the 0.7% sending the kiwi briefly to 0.5013. Currently we are trading at 0.4995 (2.002). With a slew of UK related data to print including unemployment later today direction is tough to gauge. Retail Sales Thursday will be the key release.

Exchange Rates
Current Level:0.4998 (2.0008)
Resistance: 0.5020 (2.0450)
Support: 0.4890 (1.9920)
Last Week’s Range: 0.4885-0.5013 (1.9950-2.0473)

View NZDGBP charts

Brexit headlines continue to bounce around the British Pound crosses. Against the New Zealand Dollar (NZD) it has posted a new low of 0.4885 (2.0470). UK GDP printed down on expectations taking the cross higher to 0.4945 (2.0220). Next week’s NZ quarterly CPI release and UK’s yearly CPI figures will be key to the pair staying under 0.5000 (2.000) with a Brexit agreement also expected which could turn markets on its head.

Exchange Rates

The current interbank midrate is:NZDGBP 0.4930   GBPNZD 2.0283
The interbank range this week has been:NZDGBP 0.4885 – 0.4976   GBPNZD 2.0096 – 2.0473

View NZDGBP charts

The New Zealand Dollar (NZD) has started the week well after suffering massive losses last week against the British Pound (GBP). Rebounding of 0.4900 (2.0415) the pair travelled back to 0.4950 (2.0200) amid news that UK businesses are still anxious about Brexit. A recent British Chamber of Commerce survey revealed that services sector employers were holding off hiring new staff because of ongoing Brexit concerns. UK monthly GDP prints tomorrow. The cross will continue to be volatile for a while yet, we suspect a push higher in the Pound will eventuate once Brexit has been resolved.

Exchange Rates
Current Level: 0.4925 (2.0304)
Resistance: 0.5000 (2.0450)
Support: 0.4890 (2.0000)
Last Week’s Range: 0.4897-0.5091 (1.9643-2.0422)

View NZDGBP charts

We are back under 0.5000. The New Zealand Dollar (NZD) continues to be very weak after poor local data has stifled any upside momentum against the British Pound (GBP). Friday midday we are trading at 0.4980 (2.008) a 19 June 2016 (Brexit referendum) low. The Global Dairy Auction has weighed on the NZD after auction results were down for the 3rd consecutive time at -1.9% after -1.3% was widely forecast. The ongoing fate of Brexit continues to affect the Pound but this week it has been rather positive with Theresa may speaking on recent matters. Next week’s monthly GDP has the impact to shift the pair as the only key data.

Exchange Rates

The current interbank midrate is:NZDGBP 0.4978   GBPNZD 2.008
The interbank range this week has been:NZDGBP 0.4972- 0.5091   GBPNZD 1.9643- 2.0111

View NZDGBP charts

The New Zealand Dollar (NZD), British Pound tracked to a new low of 0.5040 (1.9850) overnight on better than expected UK Manufacturing data. The third quarter figures showed an improvement in Manufacturing to 53.8 vs 52.6 expected with output and new orders gaining traction. The current levels are reasonably attractive for sellers of Pounds given the recent extent of the shift from the high of 0.5980 (1.6710) with the cross trading around the 0.5380 (1.8600) area at the start of 2018. We still have a long way to travel back to 0.4570 (2.1850), pre-referendum Brexit levels with Brexit holding the only long term key to Pound success. Later in the week PMI releases.

Exchange Rates
Current Level: 0.5062 (1.9755)
Resistance: 0.5112 (2.0000)
Support: 0.5000(1.9560)
Last Week’s Range: 0.5036-0.5090 (1.9646-1.9855)

View NZDGBP charts

The New Zealand Dollar (NZD) traded down to 0.4992 (2.0030) when recent “average earnings” data showed a pickup and the rate of UK employment growth came in the strongest over the past 3 years. The Pound enjoyed a period of support before falling back over the last few days to 0.5060. Clearly not ready to plunge below the pivotal 0.5000 (2.000), we see the range around 0.5000 (2.000) to 0.5100 (1.9610) to remain. We still have a long way to travel back to 0.4570 (2.1850), pre-referendum Brexit levels with Brexit holding the only long term key to GBP success. Technically the NZD/GBP pair is trading above the 200 day moving average with 0.5180 (1.9300) acting as resistance to the topside. Holders of pound have had to wait a fair while (June 2016) for prices to trade back at 0.5000 (2.000) levels but should note these levels are reasonably attractive given the recent extent of the shift from the high of 0.5980 (1.6710) with the cross trading around the 0.5380 (1.8600) area at the start of 2018. “Averaging in” depending on the need to hold NZD is one way to reduce risk, selling at several levels in tranches. ie 0.5050, 0.5000, 0.4950, 4900 is recommended.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5055   GBPNZD 1.9782
The interbank range this week has been:NZDGBP 0.5036- 0.5115   GBPNZD 1.0846- 1.0930

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This cross continues to be choppy, with the UK Pound (GBP) still being Brexit headline driven. The New Zealand dollar (NZD) has retraced some of its recent gain to 0.5113 against the GBP with the NZD/GBP now at 0.5070 awaiting for further direction from the RBNZ release Thursday. If tomorrows confidence data is poor look for another test of 0.5000 on a follow through of a dovish RBNZ.

Exchange Rates
Current Level: 0.5063 (1.9749)
Resistance: 0.5120 (2.0202)
Support: 0.4950 (1.9531)
Last Week’s Range: 0.4996 – 0.5115 (1.9552 – 2.0014)

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Choppy trading this week and Brexit headlines continue to dominate GBP movements. The better than expected UK retail sales data overnight saw further NZD weakness on this cross currently around 0.5037 after a low for the week at 0.4992. We expect another test of the 0.5000 mark into next week.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5037   GBPNZD 1.9854
The interbank range this week has been:NZDGBP 0.4992 – 0.5062   GBPNZD 1.9755 – 2.0033

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Further weakness in the New Zealand Dollar (NZD) has seen it break lower through 0.5000 (2.000) against the British Pound (GBP) confirming we are fast approaching pre Brexit levels set during the referendum in June 2016. If risk off markets develop we could see the pair lower as investors sell the kiwi. Wednesdays UK CPI is set to publish around 2.5% with NZ second quarter GDP Thursday which markets are predicting to release at 0.8% much higher than the previous three quarters.

Exchange Rates
Current Level: 0.5000 (2.000)
Resistance: 05040 (2.0020)
Support: 0.4995 (1.9850)
Last Week’s Range: 0.4992 – 0.5034 (1.9863-2.0033)

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The New Zealand Dollar (NZD) looks poised to make another break below 0.5000 (2.000) against the British Pound (GBP) after briefly seeing 0.4993 (2.0028) earlier in the week. The Bank of England (BoE) left the benchmark rate unchanged overnight at 0.75% highlighting no further domestic indicators have shown a change to current policy. The pair is trading at 0.5010 (1.9960) Friday with no further economic data to release, headlines will be the driver heading into the weekly close.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5016   GBPNZD 1.9935
The interbank range this week has been:NZDGBP 0.4994 – 0.5092   GBPNZD 1.9639 – 2.0025

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The British Pound (GBP) has pushed higher against the New Zealand Dollar (NZD) continuing last week’s surge through 0.5050 (1.9760) support. Positive Brexit headlines have helped the Pound (GBP) lift across the board after Michel Barnier said an agreement could be reached by November. The pair is trading just shy of the physiological level of 0.5000 (2.000) not seen since the day of the Brexit Referendum in June 2016. With the BoE to announce their official cash rate Thursday followed by their monetary policy we could indeed be starting down prices starting with a 4. With the second week of no significant NZ data to release we believe it won’t take much for the kiwi to slide further.

Exchange Rates 
Current Level: 0.5007 (1.9972)
Resistance: 0.5090 (2.0000)
Support: 0.5000 (1.9660)
Last Week’s Range: 0.5002 – 0.5691 (0.5002 – 0.5136)

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The NZDGBP pair has seen another choppy week of trading as the UK Pound (GBP) continues to be driven by conflicting Brexit headlines. Over all the cross rate is only marginally lower than where it opened the week, but we’ve had a good range to play with between then and now. While further test lower are likely, there is good support toward 0.5050 that we believe will contain the downside, and until we get some definitive news on a Brexit agreement we believe any levels below 0.5100 make attractive buying of New Zealand dollars (NZD).

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5096   GBPNZD 1.9624
The interbank range this week has been:NZDGBP 0.5068 – 0.5145   GBPNZD 1.9437 – 1.9730

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The Pound Sterling (GBP) surged against the New Zealand dollar (NZD) last week in the wake of positive comments from the EU Brexit negotiator. Further NZDGBP losses came after NZ business confidence data declined even further. The pair traded to just under 0.5100 late in the week, but in the past 24 hours headlines from Brexit negotiations have painted a much less rosy picture and that reality is starting to weigh on the GBP with the NZDGBP cross recovering toward 0.5130 as a result. We expect more choppy trading over the coming weeks, but with the market continuing to respect the broader range of 0.5050 to 0.5300 that has dominated since October last year. The real move in the GBP, on way or the other, will come when we finally get a definitive outcome from these Brexit negotiations. That may be some way off yet, but with the March 29 2019 deadline looming, time is quickly running out.

Exchange Rates 
Current Level: 0.5130 (1.9492)
Resistance: 0.5290 (1.9646)
Support: 0.5090 (1.8904)
Last Week’s Range:  0.5098 – 0.5222 (1.9151 – 1.9614)

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The British Pound received a boost midweek with positive Brexit headlines publishing. Against the New Zealand Dollar (NZD) the pair was plunged lower to 0.5100 (1.9600) levels. It has since consolidated around 0.5115 (1.9550) holding onto most of the Pound gains. Long term support at 0.5063 (1.9750) is still holding from April this year but with a Brexit result in sight we could see a break of this level fairly soon. Next week’s main headline is Manufacturing PMI – this will be key.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5105   GBPNZD 1.9588
The interbank range this week has been:NZDGBP 0.5101- 0.5222   GBPNZD 1.9151- 1.9606

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Light trading to start the week on this cross due to the UK bank holiday on Monday….currently sitting around the 0.5195 as the NZD has drifted marginally higher on the increased risk sentiment and continued Brexit concerns as talks enter the final phase with no apparent consensus between the UK and EU to hand…we look for trading to remain within existing ranges for the week.

Exchange Rates 
Current Level: 0.5199 (1.9234)
Resistance: 0.5215 (1.9340)
Support: 0.5170 (1.9170)
Last Week’s Range: 0.5163 – 0.5212 (1.7233-1.7458)

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Another week gone by and we see no real break from the current sideways tone. The British Pound (GBP) New Zealand Dollar (NZD) remains choppy with the GBP having the slight edge over the NZD over the week posting small gains to 0.5180 (1.9300). The Pound will continue to be weighed down by brexit pessimism with negotiations entering the final stages.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5180   GBPNZD 1.9305
The interbank range this week has been:NZDGBP 0.5163- 0.5213   GBPNZD 1.9183- 1.9370

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The New Zealand Dollar (NZD), British Pound (GBP) is harder to pick than a broken nose at the moment. Risk markets have played a pivotal role this week changing market sentiment several times. Currently the pair is trading at 0.5180 (1.9300) with markets Friday shifting back to risk on and moving in familiar patterns. UK Retail Sales printed Thursday night and showed a very good rise to 0.7% m/m with expectations at 0.2% this is a vast improvement on the prior month figure of -0.5%. Weirdly though the cross did not move in Pound (GBP) favor only briefly spiking before being sold off to 0.5200 (1.9250) levels. NZ Producer Index figures release today and should show an increase of 0.2% in line with previous month’s buoyant numbers. NZ quarterly Retail Sales prints next week.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5185   GBPNZD 1.9288
The interbank range this week has been:NZDGBP 0.5137 – 0.5193   GBPNZD 1.9256 – 1.9468

View NZDGBP charts

The New Zealand Dollar (NZD), British Pound (GBP) is harder to pick than a broken nose at the moment. Risk markets have played a pivotal role this week changing market sentiment several times. Currently the pair is trading at 0.5180 (1.9300) with markets Friday shifting back to risk on and moving in familiar patterns. UK Retail Sales printed Thursday night and showed a very good rise to 0.7% m/m with expectations at 0.2% this is a vast improvement on the prior month figure of -0.5%. Weirdly though the cross did not move in Pound (GBP) favor only briefly spiking before being sold off to 0.5200 (1.9250) levels. NZ Producer Index figures release today and should show an increase of 0.2% in line with previous month’s buoyant numbers. NZ quarterly Retail Sales prints next week.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5185   GBPNZD 1.9288
The interbank range this week has been:NZDGBP 0.5137 – 0.5193   GBPNZD 1.9256 – 1.9468

View NZDGBP charts

The New Zealand Dollar (NZD) and the British Pound take a breather after a huge week of volatility. The cross has consolidated around the 0.5160 (1.9380) area Tuesday as it awaits further direction. The Pound received a boost Friday after manufacturing numbers and prelim GDP printed above market expectations. A low of 0.5140 (1.9455) was reached before the cross recovered slightly higher. The NZD is still the weakest currency of 8 and may continue to slip lower against the Pound in the coming weeks. Multi year support is 0.5040 (1.9850) going back to Brexit voting day in June 2016. UK unemployment numbers print along with Retail Sales later in the week, we expect 0.5100 (1.9600) to be fragile.

Exchange Rates 
Current Level: 0.5158 (1.9387)
Resistance: 0.5245 (1.9580)
Support: 1.5110 (1.9070)
Last Week’s Range: 0.5137 – 0.5244 (1.9071 – 1.9468)

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The British Pound (GBP) reversed sharply on the New Zealand Dollar (NZD) yesterday with the pair bouncing from 0.5240 (1.9080) to 0.5145 (1.9440). The Reserve Bank of New Zealand left the official Cash rate unchanged at 1.75% as expected. The New Zealand Dollar (NZD) was immediately put on notice with Adrian Orr saying if growth slows he would consider a cut to the cash rate. This sent shock waves through markets with his comments seen as more dovish than markets were anticipating. He also said the cash rate would stay low well into mid-2020. Buyers of Pounds should consider current levels with the NZD expected to fall lower over the coming months depending on how brexit negotiations develop.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5144   GBPNZD 1.9440
The interbank range this week has been:NZDGBP 0.5140- 0.5244   GBPNZD 1.9071- 1.9456

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The New Zealand Dollar (NZD) reached a high of 0.5195 (1.9250) Friday vs the British Pound (GBP) after weaker UK Services PMI released lighter at 53.5 from the 54.7 markets were expecting weakening the GBP to fresh lows. Monday we have seen continued weakness in the Pound (GBP) with the pair hovering around pivotal level of 0.5210 (1.9200). The main news of the week will be the RBNZ Official Cash Rate announcement on Thursday where the rate is widely expected to remain at 1.75%. UK Manufacturing Production is released at the end of the week along with monthly GDP figures. Buyers of Pound will be hoping both these will publish negative so further upside momentum continues. The long term 2018 range of 0.5045 (1.9820) and 0.5300 (1.8890) is well intact.

Exchange Rates 
Current Level: 0.5200 (1.9230)
Resistance: 0.5210 (1.9360)
Support:0.5165 (1.9190)
Last Week’s Range: 0.5150 – 0.5207 (1.9204 – 1.9416)

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With lots of data releasing over the week we have seen the New Zealand (NZD), Great British Pound (GBP) chop around a lot. The (BoE) Bank of England has hiked their benchmark rate to 0.75% from 0.50% creating a spike lower to 0.5150 (1.9420) before NZD bulls grappled the pair back to 0.5180 (1.9300) where it consolidated. UK Services PMI is the last item on the weekly docket and should report a positive number with this sector doing well recently.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5167   GBPNZD 0.19354
The interbank range this week has been:NZDGBP 0.5150 – 0.5202   GBPNZD 1.9223 – 1.9416

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The British Pound (GBP), New Zealand Dollar (NZD) cross traded as low as 0.5165 (1.9360) last week but we have since seen kiwi strength overrule with the pair back at the two week high of 0.5200 (1.9240). This weeks (BoE) monetary policy statement and cash rate hike will be the highlight of the week Thursday with the BoE expected to raise the benchmark cash rate to 0.75% from 0.50%. ANZ Business confidence is later today along with NZ employment figures tomorrow. The kiwi has perked up recently and we are expecting more of this with a retest of 0.5220 (1.9150)

Exchange Rates 
Current Level: 0.5191 (1.9264)
Resistance: 0.5210 (1.9360)
Support: 0.5165 (1.9190)
Last Week’s Range: 0.5164 – 0.5202 (1.9223 – 1.9365)

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With Brexit still occupying headlines the British Pound (GBP) has been watched closely. Against the New Zealand Dollar (NZD) it has picked up support trading to 0.5175 (1.9320), up small numbers on the weekly open. With a light calendar this week we don’t expect any change heading into the close. A slew of UK data is to publish next week including the (BoE) Bank of England Cash Rate which is expected to be hiked to 0.75% from 0.5%

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5171   GBPNZD 1.9338
The interbank range this week has been:NZDGBP 0.5164- 0.5202   GBPNZD 1.9225- 1.9365

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The New Zealand Dollar (NZD) made solid gains against the British Pound over the week with it closing at 0.5185 (1.9290), 65 points higher from the weekly open of 0.5120 (1.9540). Weak UK data weighed down the Pound (GBP) with surprising declines in Retail Sales and inflation data taking the pair to fresh July lows. No significant UK data is to publish over the remaining week, we can expect the cross to remain around current levels. Currently trading at 0.5180 (1.9300)

Exchange Rates 

Current Level: 0.5178  (0.6588)

Resistance: 0.5210 (1.9410)

Support: 0.5150 (1.9200)

Last Week’s Range: 0.5120 – 0.5209 (1.9199-1.9533)

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Poor UK data has seen the NZD work higher against the UK Pound (GBP), currently at 0.5180 and we look for the NZD to work to the immediate resistance level at 0.5200 as Brexit woes will continue to restrict any substantial GBP strength. We should close the week around current levels.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5172   GBPNZD 1.9335
The interbank range this week has been:NZDGBP 0.5107 – 0.5209   GBPNZD 1.9199 – 1.9580

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Currently around 0.5122 with little clear direction until UK data released from tomorrow onwards. Brexit continues to dominate the market so unless economic data surprises expect range trading to continue on this cross. Overall the near-term outlook is NZD positive but a sustained break below 0.5120 would leave the NZD vulnerable.

Exchange Rates 
Current Level: 0.5122 (1.9522)
Resistance: 0.5200 (1.9531)
Support: 0.5120 (1.9230)
Last Week’s Range: 0.5107 – 0.5176 (1.9321 – 1.9580)

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With little immediate market reaction to the release of the UK White Paper on Brexit, this cross remains in a holding pattern…currently around 0.5141 we expect trading around this level to hold to close the week….any break below 0.5120 would target 0.5030 any break of 0.5200 should stretch to the 0.5280 mark…but this is probably next week’s story..

Exchange Rates 
The current interbank midrate is:NZDGBP 0.5140   GBPNZD 1.9455
The interbank range this week has been:NZDGBP 0.5111- 0.5151   GBPNZD 1.9300- 1.9564

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Choppy trading in this cross as the Brexit train crash continues to get worse…after starting the week by gapping higher the GBP is back under pressure as key members  of  May’s government resign…the NZD opened at 0.5120 on Monday morning bit quickly bounced to the 0.5185 level as news of the turmoil in the UK government surfaced…now back around 0.5168 but given the ongoing Brexit crisis, we favour NZD upside on this cross and look for another run at the 0.5185 level over the next day or so.

Exchange Rates 
Current Level: 0.5166 (1.9357)
Resistance: 0.5200 (1.9531)
Support: 0.5120 (1.9230)
Last Week’s Range: 0.5096 – 0.5181 (1.9300 – 1.9622)

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The British Pound eased lower from the high of 0.5095 (1.9620) midweek against the New Zealand Dollar (NZD). At one point it looked like 0.5080 (1.9700) was on order, the 5 week low but the kiwi improved to trade back to the weekly open.  Long term support is still seen at 0.5045 (1.9830) all the way back to Brexit voting in June 2016. Later in the week Bank of England (BoE) Governor Carney speaks around the state of the economy.

Exchange Rates 

The current interbank midrate is:NZDGBP 0.5137    GBPNZD 1.9466
The interbank range this week has been:NZDGBP 0.5096- 0.5171   GBPNZD 1.9340- 1.9622

View NZDGBP charts

The British Pound has pushed to new heights against the declining New Zealand Dollar (NZD) as it traded to 0.5100 (1.9615) earlier this week before easing back to 0.5130 (1.9500). With positive UK data this represents a buoyant GBP, it’s looking like it may retest 0.5080 (1.9700) again the low of mid May 2018. Long term support is still seen at 0.5045 (1.9830) going all the way back to brexit voting in June 2016. Later in the week Bank of England (BoE) Governor Carney speaks around the state of the economy.

Exchange Rates 
Current Level: 0.5120 (1.9531)
Resistance: 0.5145 (1.9620)
Support: 0.5100 (1.9440)
Last Week’s Range: 0.5096 – 0.5191 (1.9265 – 1.9622)

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Not even the dovish speech given by Bank of England’s (BoE) Haskel Wednesday could dent the spirits of the British Pound against the New Zealand Dollar (NZD) as it continued its bullish push through 0.5150 (1.9400). ANZ Business confidence published at -39.0 down from last month figure of -27.2 highlighting an alarming dislike by NZ business owners for the new labour led government. The RBNZ cash rate announcement showed no surprises with markets generally expecting a dovish statement with the rate remaining unchanged at 1.75%. Adrian Orr hinted the economy could be operating at slightly slower than anticipated at this stage of the year. He said while the May monetary policy remains intact the main drivers of the economy may not be as strong as first thought. We see not much standing in the way of 0.5070 (1.9700) from here on further broad based NZ weakness.

Exchange Rates
The current interbank midrate is:NZDGBP 0.5157   GBPNZD 1.9392
The interbank range this week has been:NZDGBP 0.5151 – 0.5219   GBPNZD 1.9159 – 1.9413

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The bullish momentum we saw late last week in the New Zealand Dollar (NZD) British Pound pair has not continued, trading back to 0.5220 (1.9160) towards the end of the week to close around this level. The Bank of England kept rates on hold at 0.5% but the voting outcome surprised the market at 6-3 suggesting a rate rise earlier than expected. This has given the Pound renewed vigour trading at near lows Tuesday of 0.5185 (1.9280). We see the GBP continuing through 0.5180 (1.9300) the 11 month high to retest 0.5155 (1.9400) in the short term. This week’s RBNZ cash rate announcement will be key to this if we see a dovish monetary statement as predicted. The cross is still trading in the long term range from the low of 0.5040 and the high 0.5310 (1.8830) going back to October last year.

Exchange Rates
Current Level: 0.5190 (1.9267)
Resistance: 0.5220 (1.9420)
Support: 0.5150 (1.9150)
Last Week’s Range: 0.5175 – 0.5253 (1.9036 – 1.9325)

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The British pound (GBP) has broken the key level of 0.5200 (1.9230) this morning against the New Zealand Dollar (NZD) pushing the pair lower to 0.5180 (1.9305) as the Bank of England kept rates on hold at 0.5% but the voting outcome surprised the market at 6-3 suggesting a rate rise earlier than expected. Andy Haldane voted to raise the cash price, an important and respected man in the Bank of England sending a important and bullish signal to markets. We see further decline in the cross to possibly retest 0.5150 (1.9400) in the near term as momentum for GBP continues.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5181   GBPNZD 1.9301
The interbank range this week has been:NZDGBP 0.5178- 0.5254   GBPNZD 1.9034- 1.9325

View NZDGBP charts

The British Pound (GBP) briefly broke the support level of 0.5230 (1.9130) Monday against the New Zealand Dollar (NZD) rallying to 0.5220 (1.9170) but has since slipped back into its range bound swings to trade at 0.5230 (1.9120) Tuesday. The Bank of England release their official Cash rate this week with markets expecting no change to the current 0.5%. The voting should represent a 7-2 against a change with 6-3 also possible. Growth for the first quarter 2018 has been slow with a possible signal that an August 2018 increase to 0.5% could be planned. Watch for NZ quarterly GDP figures to sift the pair on Wednesday.

Exchange Rates
Current Level: 0.5230 (1.9120)
Resistance: 0.5290 (1.9230)
Support: 0.5200 (1.8900)
Last Week’s Range: 0.5215 – 0.5282 (1.8932-1.6830)

View NZDGBP charts

The British Pound (GBP) has traded all over the park and arrived at nowhere this week against the New Zealand Dollar (NZD), with lots happening in geopolitical terms and with Central banks the pair has been rudderless. In fact we can say the same for last week’s movement as well with markets waiting for news of significance to break the pair from its current band around 0.5260 (1.9000) levels. Brexit concerns has bought on further anxiety with the rejection of the meaningful vote amendment from to pro EU lawmakers. The news dropped the GBP against the US Dollar (USD) but remained steady against the kiwi. UK Retail Sales published at 1.3% up on the 0.5% expected but had little effect on the Weakened Pound. Let’s hope next week we get a break above 0.5280 (1.8930) or below 0.5235 (1.9100) so we can comment on direction. Bank of England (BoE) official cash rate is Thursday.

Exchange Rates
The current interbank midrate is:NZDGBP 0.5244   GBPNZD 1.9070
The interbank range this week has been:NZDGBP 0.5224 – 0.5282   GBPNZD 1.8932 – 1.9141

View NZDGBP charts

The New Zealand Dollar (NZD) has consolidated around the 0.5250 (1.9050) zone against the British Pound (GBP) after weeks of Pound declines from the low of 0.5070 (1.9720). UK Manufacturing figures printed down at -1.4% from 0.3% expected, and so did the Visible Trade Balance with expectations of -11.5B the figure published at -14.0B, well down on last months figures. The total trade deficit widened to 1.9B to 9.7B for the three months to April 2018. Later in the week we have UK Retail Sales and CPI. Although the Pound has made a small recovery lately we suggest a retest of the January 2018 high of 0.5375 (1.8600) is on the cards.

Exchange Rates
Current Level: 0.5242 (1.9076)
Resistance: 0.5290 (1.9140)
Support: 0.5225 (1.8900)
Last Week’s Range: 0.5224 – 0.8288 (1.8910 – 1.9141)

View NZDGBP charts

The New Zealand Dollar (NZD) regained last week’s losses earlier in the week travelling to 0.5290 (1.8900) from 0.5225 (1.9130) before losing support. Better than expected UK data have bought the Pound back in favour after Construction PMI, Services PMI and Halifax PMI all posted solid results boosting the Pound off its lows back to 0.5235 (1.9100). Next week locally we only have Business manufacturing index. From here it’s anyone’s guess as to further direction, but with strong resistance of 0.5300 (1.8870) coming into play many times this year we could see a retest of 0.5180 (1.9300) if next week’s UK manufacturing result is above 0.1%.

Exchange Rates
The current interbank midrate is:NZDGBP 0.5233   GBPNZD 1.9110
The interbank range this week has been:NZDGBP 0.5226- 0.6023   GBPNZD 1.8910- 1.9134

View NZDGBP charts

Fundamental weakness in the Great British Pound (GBP) continues to hamper any momentum. Against the New Zealand Dollar (NZD) the pair has continued to push higher from the low of 0.5078 (1.9690) in early April 2018 rising to mid-November levels of 0.5280 (1.8940). Data out has seen UK net lending improve to 5.7B over an expected 5.2B but with expectations of no rate hike for 2018 expected for the BoE (Bank of England) further weakness prevails. UK Manufacturing is published tonight just prior to the US Non-Farm Payroll numbers, expect volatility.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5276    GBPNZD 1.8953
The interbank range this week has been:NZDGBP 0.5203- 0.5285    GBPNZD 1.8920- 1.9218

View NZDGBP charts

The Great Bearish Pound (GBP) continued its run lower against the New Zealand Dollar (NZD), continuing last week’s decline from 0.5120 (1.9520) to 0.5220 (1.9160). UK Prelim Business Investment printed down at -0.2% after 0.2% was expected with business investment estimated to have fallen by 46.1B between fourth quarter 2017 and first quarter 2018. This represents a significant shift and could weigh on sentiment for a while. Manufacturing PMI is released on Friday and should reflect a positive result.

Exchange Rates

Current Level: 0.5206 (1.9208)

Resistance: 0.5227 (1.9414)

Support: 0.5150 (1.9130)

Last Week’s Range: 0.5140 – 0.5224 (1.9142 – 1.9455)

View NZDGBP charts

After UK CPI figures were published down on April numbers the British Pound (GBP) struggled to keep pace with the New Zealand Dollar (NZD) pushing through to 0.5180 (1.9300). This is a considerable move from last week’s low of 0.5075 (1.9700). UK Retail sales were well up on expectations of 0.8% to 1.6% surprising markets but not moving the pair significantly. We see large resistance at 0.5200 with Carney to speak tomorrow morning.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5180   GBPNZD 1.9305
The interbank range this week has been:NZDGBP 0.5091- 0.5191   GBPNZD 1.9265- 1.9632

View NZDGBP charts

The New Zealand Dollar (NZD) has retraced last week’s losses to trade back above the 0.5155 (1.94) handle to reach 0.5175 (1.9320). NZ Retail sales published worse than predicted at 0.1% based on 1.0% expected sending the NZD south. Tonight we have the Bank of England (BoE) inflation report hearing followed by yearly CPI. Later in the week governor Carney speaks and UK retail sales is published. We should get some movement from Wednesday – my prediction is that any upside for the NZD will be limited to 0.5190 (1.9250)

Exchange Rates

Current Level: 0.5175 (1.9323)

Resistance: 0.5195 (1.9680)

Support: 0.5080 (1.9250)

Last Week’s Range: 0.5076 – 0.5180 (1.9304-1.9699)

View NZDGBP charts

The New Zealand Dollar (NZD) has lost further ground against the British Pound (GBP) dropping to a 3-week low of 0.5075 (1.9700). UK unemployment was bang on expectation of 4.2% with a larger than expected number of people claiming the unemployment benefits rising to 31,200 after 13,300 was expected. With solid global dairy auction prices showing a rise of 1.9% on all milk products the kiwi strangely remained on the back foot. The positive NZ Budget was still not enough to bring the NZD back in favour. The cross should close the week around current levels of 0.5100.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5095   GBPNZD 1.9630

The interbank range this week has been:NZDGBP 0.5076 – 0.5159   GBPNZD 1.9385 – 1.9699

View NZDGBP charts

The New Zealand Dollar (NZD) continued to depreciate against the surging British Pound (GBP) regaining earlier lack of support after the Bank of England (BoE) cash rate announcement trading back at 0.5100 (1.9600). Even though the BoE have priced out a hike for 2018 we will expect the pair to make a break for 1.9800 and ultimately 0.5000 (2.0000) over the following weeks based on the weakening kiwi. Tonight’sunemployment figures should give us confirmation of further direction.

Exchange Rates

Current Level: 0.5090 (1.9646)

Resistance:0.5117 (1.9750)

Support: 0.5063 (1.9540)

Last Week’s Range:0.5089 – 0.5184 (1.9291 -1.9649)

View NZDGBP charts

The New Zealand Dollar (NZD) depreciated midweek against the British Pound (GBP) after the RBNZ cash rate was announced falling to a level of 0.5090 (1.9640), a monthly low. It didn’t stick around long retracing earlier movements back to 0.5150 (1.9420) after the Bank of England (BoE) monetary statement was announced. The Bank of England left their benchmark cash rate unchanged at 0.50% in a 2-7 vote as markets expected but the market saw the BoE comments as generally dovish after the pricing out a rate hike for 2018. We expect the Pound to push higher over the coming weeks to retest the massive physiological level of 0.5000 (2.0000).

Exchange Rates

The current interbank midrate is:NZDGBP 0.5143   GBPNZD 1.9445

The interbank range this week has been:NZDGBP 0.5089 – 0.5193   GBPNZD 1.9256 – 1.9649

View NZDGBP charts

The New Zealand Dollar (NZD) continued to make further gains against the British Pound (GBP) making a fresh two week high of 0.5190 (1.9250) Friday.  UK Construction figures were slightly up on predictions but Services PMI came in lower than expectation at 52.8 vs 53.8. With the NZD just sitting off its recent high, markets await further data for guidance in direction. RBNZ should be add volatility when the cash rate is released following with the Bank of England (BoE) cash rate soon after. A classic head and shoulders pattern is emerging in the cross with momentum perhaps to continue through to 0.5150 (1.9400) depending on the monetary policy statements.

Exchange Rates

Current Level:40.5170 (1.9342)

Resistance: 0.5195 (1.9450)

Support: 0.5140 (1.9250)

Last Week’s Range: 0.5109 – 0.5193 (1.9256-1.9575)

View NZDGBP charts

The British Pound (GBP) has fallen in value against the New Zealand Dollar (NZD). Mixed economic results this week in the UK have not done the Pound any favours. Construction figures were slightly up on predictions, but Services PMI was lower than expectation at 52.8 vs 53.8, the pair travelling to 0.5190 (1.9270). The New Zealand Dollar (NZD) has regained the losses from late April from 0.5063 (1.9750) and looks to retest resistance around 0.5220 (1.9160). Next week will be volatile for the cross with the RBNZ Cash rate and the Bank of England (BoE) cash rates releasing.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5186   GBPNZD 1.9283

The interbank range this week has been:NZDGBP 0.5063 – 0.5191   GBPNZD 1.9265 – 1.9753

View NZDGBP charts

The New Zealand Dollar (NZD) travelled lower against the British Pound (GBP) to 0.5060 Friday. Preliminary UK GDP disappointed publishing well down at 0.1% for the first quarter of 2018 after 0.3% growth was expected. This took the pair higher to 0.5150 (1.9425) late during the European session where it closed the week. Brexit woes have had little impact on the pair Monday with a real possibility an agreement may not happen to exit the EU. From 0.5090 (1.9650) momentum still lies to the downside with massive support close at 0.5000. Buyers should consider current levels.

Exchange Rates

Current Level: 0.5120 (1.9530)

Resistance: 0.5150 (1.9750)

Support: 0.5063 (1.9430)

Last Week’s Range:  0.5063 – 0.5850 (1.9423 – 1.9753)

View NZDGBP charts

The New Zealand dollar (NZD) has underperformed most other currencies this week, including the UK Pound (GBP). There has been little in the way of key economic data from either country, although tonight we do get the latest reading of UK GDP. The recent declines in the NZDGBP pair look like they are running out of steam and we may well now enter a period of consolidation. We could even see something of a corrective bounce develop as we are now close to the best levels since the Brexit vote back in June 2016. Those looking to sell GBP and buy NZD should think about starting to average their way into the NZD at the current level.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5071   GBPNZD 1.7153

The interbank range this week has been:NZDGBP 0.5063 – 0.5163   GBPNZD 1.9368 – 1.9753

View NZDGBP charts

Both the New Zealand dollar (NZD) and the Great British Pound (GBP) saw periods of pressure last week and as such the cross rate chopped back and forth in a volatile, but reasonably tight, range. There was little overall direction however, and that remains the case in the early stage of this week. With a BOE interest rate hike in May now far from certain, the NZDGBP cross is finding some support on dips toward 0.5100. We expect that to remain the case over the course of this week.

Exchange Rates

Current level: 0.5129 (1.9496)

Resistance: 0.5200 (1.9608)

Support: 0.5100 (1.9231)

Lsat Week’s Range: 0.5112 – 0.5165 (1.9362 – 1.9562)

View NZDGBP charts

The British Pound (GBP) has traded around 0.5150 (1.9400) against the New Zealand Dollar (NZD) for most of the week. Poor Retails Sales and yearly CPI figures took the pair back above 0.5165 (1.9370) during Thursdays European trading session. Looking to next week we have NZ Trade Balance and UK prelim quarterly GDP. Buyers looking to buy GBP on a spike have an opportunity now as we suspect the GBP could target 0.5000 in the longer run.

 

Exchange Rates

The current interbank midrate is:NZDGBP 0.5145   GBPNZD 1.9435

The interbank range this week has been:NZDGBP 0.5112 – 0.5193   GBPNZD 1.9257 – 1.9562

View NZDGBP charts

The British Pound (GBP) came of the high of 0.5216 (1.9170) midweek versus the New Zealand Dollar (NZD) as risk came back to the table. UK manufacturing production for February published lower than expected at -.02% based on expectation of 0.2% and surprised markets with the first drop in nearly a year, suggesting a possible slowdown. Unemployment rate prints tonight with yearly CPI tomorrow and Retail Sales Thursdayshould offer the GBP further support with 0.5100 (1.9607) now in sight. Buyers of the Pound should consider current levels with the Pound gathering pace.

Exchange Rates

Current Level: 0.5130 (1.9493)

Resistance: 0.5215 (1.9830)

Support:0.5042 (1.9174)

Last Week’s Range: 0.5127 – 0.5216 (1.9173 – 1.9505)

View NZDGBP charts

After several sessions of gains the New Zealand Dollar (NZD) gave it all back early Friday against the British Pound (GBP) after risk came back the table pushing the NZD off its high of 0.5216 (1.9170) to 0.5178 (1.9315). UK manufacturing production for February published lower than expected at -.02% based on expectation of 0.2% and surprised markets with the first drop in nearly a year, suggesting a possible slowdown in the UK economy.  End of April is the end of the tax year for the UK which seems to benefit the pound in April as a lot of repatriation of funds return to the UK which are derived from offshore investments. The cross currently trades at 0.5185 (1.9285) as it nears 0.5160 (1.9380) near support.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5180   GBPNZD 1.9305

The interbank range this week has been:NZDGBP 0.5150 0.5216   GBPNZD 1.9173 1.9416

View NZDGBP charts

The New Zealand Dollar (NZD) dropped to a low of 0.5154 (1.9400) Monday against the Pound (GBP) before reversing its losses back to 0.5183 (1.9295) as investors favoured the NZD in risk on markets. The latest pound (GBP) poll has suggested most are optimistic with the current economic situation, the highest level since the Brexit referendum. End of April is the end of the tax year for the UK which seems to benefit the pound in April as a lot of repatriation of funds return to the UK which are derived from offshore investments. UK manufacturing production prints tomorrow along with the BoE (Bank of England) governor Carney talks. Trading in the 0.5170 area we see a retest back to 0.5155 (1.9400) if markets continue to buy GBP.

Exchange Rates

Current Level:0.5181 (1.9301)

Resistance:0.5214 (1.9517)

Support: 0.5123 (1.9179)

Last Week’s Range: 0.5134-0.5211 (1.9189 – 1.9478)

View NZDGBP charts

The New Zealand Dollar (NZD) has been the stronger performer over the week against the British Pound (GBP), pushing to a fresh high of 0.5215 (1.9180) in post Easter risk averse market conditions. The pound (GBP) one of the worst performers recently has struggled amid detrimental economic data this week. Construction PMI printed at 47.0 against expectations of 50.9 and the purchaser’s managers Index was also lower than the expected 51.7 at 53.9. We see a possibility of renewed momentum next week for the GBP once Brexit Irish border issues are sorted.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5180   GBPNZD 1.9305

The interbank range this week has been:NZDGBP 0.5122- 0.5211   GBPNZD 1.9189- 1.9524

View NZDGBP charts

The British Pound (GBP) traded predominantly sideways over the week against the New Zealand Dollar (NZD) closing at 0.5152 (1.9410). In thin pre-Easter markets the UK current account published at -18.4B as opposed to the expected -24.0B expectation, this was the lowest since 2011, citing rising earnings from investments and higher foreign levels of investment in the UK. The yearly current account deficit is -83.0B which is 4.1% of GDP for the 2017 year. A quiet week for the NZ economy but with UK manufacturing and construction figures to be released we could see further movement to the downside with 0.5100 (1.9650) to be tested.

Exchange Rates

Current Level: 0.5130 (1.9493)

Resistance: 0.5168  (1.9640)

Support: 0.5092 (1.9350)

Last Week’s Range: 0.5108 – 0.5882 (1.9356 – 1.9577)

View NZDGBP charts

The British Pound made further gains over the New Zealand Dollar (NZD) late last week closing at 0.5120 (1.9540) in an otherwise uneventful end to a busy week. Markets opened Monday with renewed optimism that the United States and China have begin calm negotiations on trade. The pair not really responding in a hurry grinding higher to 0.5133 (1.9480). UK Current Account is published Thursday with expectation of a -23.B slightly worse than Dec 22 figure. This could put pressure on the GBP, especially if risk appetite buys the NZD. We expect a return to 0.5185 (1.9290)

Exchange Rates

Current Level: 0.5125 (1.9512)

Resistance: 0.5285  (1.9800)

Support: 0.5050 (1.8920)

Last Week’s Range: 0.5091 – 0.5161 (1.9375 – 1.9642)

View NZDGBP charts

The New Zealand Dollar (NZD) continues to remain on the back foot against a surging Pound (GBP). Coming from around 0.5250 (1.9050) at the weekly open it has rallied hard pushing the kiwi down to 0.5086 (1.9660). With UK data releasing well and the BoE portraying an optimistic view of the future post Brexit I suspect the pound (GBP) may have further to go yet as it eyes 0.5040 (1.9830), the high of November 2017. UK Current Account prints next week along with final quarterly GDP.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5120   GBPNZD 1.9531

The interbank range this week has been:NZDGBP 0.5091- 0.5214   GBPNZD 1.9179- 1.9642

View NZDGBP charts

The New Zealand Dollar (NZD) fell back against the British Pound (GBP) over the week to close at 0.5180 (1.9310) with little UK data printing. The Pound has started the week well making further gains against the kiwi pushing it to a low of 0.5128 (1.9500) Tuesday before the GBP kicked back to 0.5168 (1.9350). Markets await the (BoE) Bank of England rate announcement Friday for further direction. We are expecting a hawkish tone with possible word of sooner than expected rate hikes. A busy week for other UK data also, starting with CPI tomorrow and retail sales Thursday. The British Pound (GBP) should be kept transient throughout the week.

Exchange Rates

Current Level: 0.5160 (1.9380)

Resistance: 0.5200 (1.9800)

Support: 0.5050 (1.9230)

Last Week’s Range:0.5128 -0.5281 (1.8934 – 1.9500)

View NZDGBP charts

The British Pound, (GBP), New Zealand Dollar (NZD) had a rocky start to the week from the open at 1.8970 area it lacked any direction. Trading back to the near top of the range bound channel of 1.9150 the pair looks increasingly reluctant to move any distance from the 0.5263 (1.9000) zone. NZ Business Manufacturing Index printed this morning and it was down a touch on the prior number, pressuring the NZD a touch. Next week sees the RBNZ monetary policy statement and the Cash Rate announcement with no hike expected.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5208   GBPNZD 1.9199

The interbank range this week has been:NZDGBP 0.5210 – 0.5284   GBPNZD 1.8926 – 1.9195

View NZDGBP charts

The British Pound (GBP) has stayed within a tight range over the course of last week against the New Zealand Dollar (NZD) with 0.5285 (1.8923) the high and 0.5216 (1.9171) the low. With a lack of data released lately investors have looked to news wires over the economic calendar for meaningful information. This week remains the same with only the UK budget which releases Wednesday. Technically the pair may look to break its sideways movement and test 0.5367 (1.8632) the previous 9 Jan high if Brexit related publications prints negatively.

Exchange Rates

Current Level: 0.5255 (1.9029)

Resistance: 0.5282 (1.9270)

Support: 0.5189 (1.8930)

Last Week’s Range:0.5220 – 0.5284 (1.8926 – 1.9157)

View NZDGBP charts

The British Pound (GBP) has reversed earlier gains this week against the New Zealand Dollar (NZD), at one stage trading to a low of 0.5224 (1.9140) before coming off after Halifax House Price Index dampened the mood with the NZD pushing back to the monthly high of 0.5272 (1.8966). Manufacturing Data is published Friday and expectations are for this to be above the expected 0.2% after previous months have shown Manufacturing to be buoyant. Resistance of 0.5282 (1.8930) is the next target for the NZD Dollar.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5256   GBPNZD 1.9025

The interbank range this week has been:NZDGBP 0.5215 – 0.5286   GBPNZD 1.8917 – 1.9175

View NZDGBP charts

The British Pound (GBP) made up ground against the New Zealand Dollar (NZD) late last week during the European sessions and has opened the week well trading down through 0.5235 (1.9102) from a high of 0.5287 (1.8914) mid last week. Still we believe the pair to be generally range bound as markets digest the ongoing Brexit developments. Later in the week UK Manufacturing data figures are expected to publish well. The long-term target is 0.5080 (1.9685) the low of late November 2017. The pair still has a way to go to trade back to Brexit levels of 0.4850 (2.06) June 2016.

Exchange Rates

Current Level: 0.5220 (1.9157)

Resistance: 0.5282 (1.9270)

Support: 0.5190 (1.8938)

Last Week’s Range: 0.5188 – 0.5286 (1.89171.9276)

View NZDGBP charts

The UK Pound (GBP) remains under pressure against the New Zealand Dollar (NZD) this week, initially strengthening to 0.5190 before Brexit news dampened the mood dropping it back to trade lower than the weekly open at 0.5240. With Brexit talks now in full swing, (Theresa May speaking Friday) the pair may continue to remain volatile and possibly aimless for some time based on the ongoing Brexit tensions. Market players seem to be sensing another swing south for the Pound (GBP) may be inevitable.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5271   GBPNZD 1.8972

The interbank range this week has been:NZDGBP 0.5188 – 0.5273   GBPNZD 1.8965 – 1.9276

View NZDGBP charts

The Great British Pound (GBP) lost some of its late Friday gains against the New Zealand Dollar (NZD) opening lower Monday at 0.5200 (1.9230). The BoE deputy governor Ramsden spoke about the need to raise interest rates faster than anticipated based on accelerating wage growth factors. The Pound (GBP) dropping in value against the New Zealand Dollar (NZD) to 0.5246 (1.9062), interestingly as these comments were generally hawkish, the Pound remained on the back foot across the board.

Exchange Rates

Current Level: 0.5220 (1.9157)

Resistance: 0.5278 (1.9215

Support: 0.5204 (1.8945)

Last Week’s Range:0.5205 – 0.5289 (1.8906 – 1.9213)

View NZDGBP charts

The Great British Pound (GBP) lost its relaxed early week mood after data published out of the UK Wednesday saw investors back in the market with no agreed direction. The New Zealand Dollar being thrown to all corners trading between the low of 0.5241 (1.9078) and the high of 0.5282 (1.8930). As we approach a period of “Brexit uncertainty” and the expectation of the BoE to raise rates we will see this pair remain choppy in the medium term.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5256   GBPNZD 1.9028

The interbank range this week has been:NZDGBP 0.5241 – 0.5289   GBPNZD 1.8906 – 1.9080

View NZDGBP charts

The New Zealand Dollar (NZD) –British Pound (GBP) continued to trade in a tight band over the week. UK retail Sales printed Friday worse than was expected giving NZD further strength, the 3rd week in succession the pound has been on the back foot against the New Zealand Dollar. Inflation hearing and Unemployment rate to print later in the week, expect these to give the GBP a much needed possible breakout at current levels.

Exchange Rates

Current Level: 0.5260 (1.9011)

Resistance: 0.5280 (1.9073)

Support:0.5243 (1.8940)

Last Week’s Range: 0.5234 – 0.5279 (1.8943 – 1.9106)

View NZDGBP charts

The New Zealand Dollar (NZD) British Pound (GBP) has remained in a tight range this week between  0.5277 (1.8950) and 0.5233 (1.9106) both currencies have pushed higher against the US Dollar. Long term we have dropped below the key support level of 0.5300 (1.8870) this week as sights now could be 0.5050 (1.9800) the October 2017 low. UK Average earnings which is the measure of what the government pay for labor along with BoE inflation reports are due next week to offer further direction.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5247   GBPNZD 1.9059

The interbank range this week has been:NZDGBP 0.5224 – 0.5279   GBPNZD 1.8943 – 1.9143

View NZDGBP charts

The Great British Pound (GBP) came off hard against the New Zealand dollar (NZD) on Friday heading into the weekly close. Travelling from a relatively steady 0.5170 (1.9342), the pound was offered to 0.5265 (1.9000). The NZD/GBP pair remains in a tight range post Monday’s open around 0.5243 (1.9070), the February high of 0.5274 (1.8960) looks venerable if support continues for the kiwi (NZD).

Exchange Rates

NZDGBP

Current Level: 0.5242

Support:0.5140

Resistance: 0.5275

Last Week’s Range: 0.5151 – 0.5271

GBPNZD

Current Level: 1.9076

Support: 1.8957

Resistance: 1.9455

View NZDGBP charts

A game of two halves this week for the New Zealand Dollar / Great British Pound cross (NZD/GBP). Trading from 0.5200 (1.9230) Wednesday morning the GBP was soon under pressure giving back most of its early gains trading to 0.5270 (1.8970), a February high. The previous low of 0.5160 (1.9370) looks to be the next target and may be tested if tomorrow’s Bank of England (BOA’s) inflation report is not on the money. Next week the New Zealand Dollar may come under further pressure against the Pound if yearly CPI GBP figures are favourable.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5194   GBPNZD 1.9252

The interbank range this week has been:NZDGBP 0.5151 – 0.5271   GBPNZD 1.8970 – 1.9414

View NZDGBP charts

We have seen sideways trading in a narrow 0.5154-0.05197 range the last few days for the New Zealand dollar vs the UK Pound (NZD/GBP). The pair is now at 0.5166 with no clear direction. On this cross it really depends on which currency holds best against the USD rally. Brexit still a major risk for the GBP. Support at 0.5140 unlikely to be tested over the next few days ahead of the RBNZ. UK data on Thursday along with the BoE rate decision and growth report provide event risk for this cross.

Exchange Rates

NZDGBP

Current Level: 0.5165

Support: 0.5140

Resistance: 0.5250

Last Week’s Range: 0.5154 – 0.5222

GBPNZD

Current level: 1.9362

Support: 1.9047

Resistance: 1.9455

Last Week’s Range: 1.9149 – 1.9402

View NZDGBP charts

The New Zealand dollar (NZD) is now trading around 0.5197 against the UK Pound (GBP) after weekly high yesterday of 0.5240. There is no real trend developing as both the GBP and NZD are at the whims of the USD currently. Given our views on a pullback of NZD value against the USD this should favour the GBP on this cross, but again Brexit developments has the power to overwhelm good UK data. Look for current ranges to hold heading into next week and more NZD data. For now support at 0.5140 looks solid.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5186   GBPNZD 1.9281

The interbank range this week has been:NZDGBP 0.5139 – 0.5222  GBPNZD 1.9149 – 1.9461

View NZDGBP charts

With the UK Pound (GBP) breaking lower on renewed concerns over confidence in UK PM May, the NZD/GBP is back at 0.5208. Look for consolidation trading around current levels ahead of the speech by BoE Carney and the US data and Fed meeting over the next few days. We still favour the GBP over the New Zealand dollar (NZD) on this cross. A break of 0.5140 would trigger further NZD declines.

Exchange Rates

NZDGBP

Current Level: 0.5251

Support: 0.5140

Resistance: 0.5250

Last Week’s Range: 0.5139 – 0.5262

GBPNZD

Current Level: 1.9186

Support: 1.9047

Resistance: 1.9455

Last Week’s Range: 1.9006 – 1.9461

View NZDGBP charts

The NZD has continued to shift lower against the UK Pound (GBP) as UK data continues to remain solid and talk around a “soft” Brexit increases. After the lower than expected CPI data yesterday the New Zealand dollar (NZD) dropped from a high of 0.5257 to 0.5150, it opens back around 0.5188 this morning but given sagging fundamentals we look for the NZD to move lower on this cross. A break of 0.5140 would target 0.5100 support out into next week.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5181   GBPNZD 1.9301

The interbank range this week has been:NZDGBP 0.5139 – 0.5263   GBPNZD 1.9002 – 1.9461

View NZDGBP charts

The New Zealand dollar (NZD) has slipped a little on this cross. Currently around 0.5240 as more positive news for the UK pound emerges on potential for a “soft” Brexit and the chance of a favourable trade agreement between the UK and EU. With the UK Pound (GBP) approaching the 1.40 level on the USD this had continued pressure on this cross as NZD/USD gains have been slower. Next support level is 0.5230 then 0.5205 but unlikely this last level will be seen ahead of NZ CPI tomorrow.

Exchange Rates

NZD/GBP

Current Level: 0.5231

Support: 0.5240

Resistance: 0.5440

Last Week’s Range: 0.5229 – 0.5293

GBP/NZD

Current Level: 1.9117

Support: 1.8382

Resistance: 1.9084

Last Week’s Range:  1.8891 – 1.9123

View NZDGBP charts

The UK Pound (GBP) remains solid on this cross, now around 0.5252 with immediate support at 0.5240. Good UK data tonight may see the NZD fall back to this level which if broken will target 0.5205. Brexit news will continue to have the power to surprise but continued talk around a “softer” Brexit will hold GBP gains.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5246  GBPNZD 1.9061

The interbank range this week has been:NZDGBP 0.5243 – 0.5360    GBPNZD 1.8657 – 1.9072

View NZDGBP charts

The New Zealand dollar (NZD) has continued to firm against the UK Pound (GBP) climbing to 0.5307 overnight on GBP weakness after the botched UK Cabinet reshuffle. Although UK data continues to be positive, Brexit concerns are over-riding. The NZD is now back around the 0.5288 level with immediate support at 0.5265, resistance remains solid at the 0.5320/30 level and with no clear trend to threaten this level we favour a sideways consolidation around current levels over the next few days.

Exchange Rates

NZDGBP

Current Level: 0.5290

Support: 0.5020

Resistance: 0.5320

Last Week’s Range: 0.5204 – 0.5305

GBPNZD

Current Level: 1.8904

Support: 1.8181

Resistance: 1.9920

Last Week’s Range: 1.8850 – 1.9216

View NZDGBP charts

With Brexit issues again to the fore UK Pound (GBP) weakness allied with a much stronger New Zealand dollar (NZD) on the USD has seen this cross move heavily in the NZD’s favour. Currently around 0.5361 the NZD/GBP looks poised to take out the 0.5400 level and given the dominant Brexit sentiment we look for this heading into next week. We are wary of the fragile nature of NZD strength, but on this cross, given the inherent GBP weakness, are less concerned.

Exchange Rates

The current interbank midrate is:NZDGBP 0.5352   GBPNZD 1.8685

The interbank range this week has been:NZDGBP 0.5268 – 0.5369   GBPNZD 1.8625 – 1.8982

View NZDGBP charts

The New Zealand dollar (NZD) has outperformed the UK Pound (GBP) so far over the holiday period helped by a broadly stronger commodity complex. The pair has traded to a high so far of 0.5280 and we may well see further gains toward resistance around 0.5330. We have some data out from both countries next week to liven thing up with UK PMI’s and a Fonterra diary action the focus.

Exchange Rates

The current interbank midrate is: NZDGBP 0.5270     GBPNZD 1.8975

The interbank range this week has been: NZDGBP 0.5230 – 0.5280     GBPNZD 1.8938 – 1.9120

View NZDGBP charts

No good news from Brexit negotiations, but no really bad news either (yet) so the economy is taking up the job of providing direction. The New Zealand dollar (NZD) is now at 0.5243 against the UK Pound (GBP) and if UK data continues to remain GBP supportive look for this cross to drop back to the 0.5200/25 level. However Brexit negotiations have the power to provide further volatility, support at 0.5175 looks a long way off and should hold over the next few days.

Exchange Rates

NZDGBP

Current Level: 0.5240

Support: 0.5020

Resistance: 0.5320

Last Week’s Range: 0.5184 – 0.5270

GBPNZD

Current Level: 1.9083

Support: 1.8181

Resistance: 1.9920

Last Week’s Range: 1.8974 – 1.9290

View NZDGBP charts

Brexit grinds on, but not affecting UK Pound (GBP) values too much over the last few days. The BoE was a non-event and the New Zealand dollar (NZD) has held onto most of its gains made earlier in the week. Currently it is a little softer back sitting around 0.5205 after a high of 0.5255 two days ago. The NZD/GBP pair looks happy to sit above the 0.5200 level, look for consolidation around current levels as we head into a thin trading period next week, immediate support at 0.5175 should hold up over the next few days.

Exchange Rates

The current interbank midrate is: NZDGBP 0.5198     GBPNZD 1.9237

The interbank range this week has been: NZDGBP 0.5058 – 0.5248     GBPNZD 1.9055 – 1.9771

View NZDGBP charts

After choppy trading last week on the ups and downs of Brexit, the New Zealand dollar (NZD) closed down at 0.5058 on Friday after deal on Brexit was released. Opened the week at 0.5111 and then rallied yesterday to 0.5184 after the RBNZ announcement, has had a high of 0.5190 overnight on and we expect consolidation around current levels heading into tonight’s Fed meeting. Immediate resistance is now at 0.5242 but given that the latest economic results are becoming GBP supportive in the longer term, although Brexit negotiations will continue to add ongoing volatility, support at 0.5150 should hold with NZD/GBP to consolidate at current heading into Wednesday night.

Exchange Rates

NZDGBP

Current Level: 0.5178

Support: 0.5020

Resistance: 0.5320

Last week’s range: 0.5058 – 0.5186

GBPNZD

Current Level: 1.9312

Support: 1.8181

Resistance: 1.9920

Last week’s range: 1.9282 – 1.9771

View NZDGBP charts

Very choppy trading on this cross over the week as Brexit negotiations provide a torrid trading backdrop…the low last Friday of 0.5041 hasn’t been revisited but the GBP remains very volatile with no clear trend as Brexit ups and downs hold sway…. data is showing a cooling economy….support at 0.5020 should hold with NZD/GBP to consolidate at current 0.5070 levels to open next week.

Exchange Rates

Support: 0.5020 (1.9920)

Resistance: 0.5320(1.8181)

View NZDGBP charts

The GBP has been on a roll as the Brexit negotiations look to be getting closer to some sort of resolution, this cross made a low yesterday around 0.5050 and is still close to that level , but for the GBP to improve further on this cross it must hold over the 1.3500 GBP/USD level and push towards 1.3550.

Exchange Rates

The current interbank midrate is: NZDGBP 0.5048      GBPNZD 1.9809

The interbank range this week has been: NZDGBP 0.5045 – 0.5232     GBPNZD 1.9821 – 1.9113

View NZDGBP charts

The New Zealand dollar (NZD) is now around 0.5178 and is stronger on a slight pullback of the UK Pound (GBP) overnight. Overall the NZD/GBP has had better week after starting on a 0.5126 low. It should consolidate at current levels to go into next week.

Exchange Rates

The current interbank midrate is: NZDGBP 0.5178     GBPNZD 1.9313

The interbank range this week has been: NZDGBP 0.5119- 0.5198     GBPNZD 1.9239-1.9533

View NZDGBP charts

A sniff of any chance of Brexit settlement and the UK Pound (GBP) moves higher on this cross. The New Zealand dollar (NZD) is now at 0.5143 but UK budget on Wednesday provides some uncertainty. The pair should hold around current levels but NZD/GBP needs to retake the 0.5200 level to have a chance of a trend change.

Exchange Rates: 

NZD/GBP

Current Level: 0.5136

Support: 0.5020

Resistance: 0.5320

Last week’s range: 1.0998 – 1.1140

GBP/NZD

Current Level: 1.9472

Support: 1.9920

Resistance: 1.8797

Last week’s range: 1.0998 – 1.1140

View 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

View 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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

Exchange Rates:

The current interbank midrate is: NZDGBP 0.5289 GBPNZD 1.8905

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

Exchange Rates

The current interbank midrate is: NZDGBP 0.5199 GBPNZD 1.9236

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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.

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

View NZDGBP charts

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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